Hislop Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting:

	Fixed element per month	Variable element per student	Variable element per course
Revenue	$ 0	$ 212	$ 0
Faculty wages	$ 0	$ 0	$ 2,100
Course supplies	$ 0	$ 37	$ 45
Administrative expenses	$ 28,800	$ 6	$ 26

In June, the school budgeted for 1,910 students and 111 courses. The school's income statement showing the actual results for the month appears below:

Hislop Tech
Income Statement
For the Month Ended June 30
Actual students	1,810
Actual courses	106
Revenue	$ 387,740
Expenses:
Faculty wages	218,200
Course supplies	72,360
Administrative expenses	41,716
Total expense	332,276
Net operating income	$ 55,464

Required:

Prepare a report showing the school's revenue and spending variances for June. Label each variance as favorable (F) or unfavorable (U).