managerial accounting

15. Ahms 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 Variable element per Variable element per element per month student course Revenue Faculty wages Course supplies Administrative expenses. $362 $0 $51 $15 $0 $2,500 $24 $20 S0 $0 $45,200 In July, the school budgeted for 1,770 students and 148 courses. The school's income statement showing the actual results for the month appears below: Ahrns Tech Income Statement For the Moath Ended July 31 Actual students Actual courses 1.470 149 Revenue Expenses: Faculty wages Course supplics Administrative expenses. $544.100 371.110 78,856 71.070 521.036 $ 23,064 Total expense Net operating income Prepare a report showing the school's revenue and spending variances for July. Label each variance as favorable (F) or unfavorable (U). 1-00:60)