Please answer all requirements.

Homework: Chapter 7 Homework Save Score: 0 of 20 pts 4 of 5 (0 complete) HW Score: 0%, 0 of 100 pts E7-33 (similar to) A Question Help 0 Student Finance (StuFi) is a startup that aims to use the power of social communities to transform the student loan market. It connects participants through a dedicated lending pool, enabling current students to borrow from a school's alumni community. StuFi's revenue model is to take an upfront fee of 60 basis points (0.60%) each from the alumni investor and the student borrower for every loan originated on its platform. StuFi hopes to go public in the near future and is keen to ensure that its financial results are in line with that ambition. StuFi's budgeted and actual results for the third quarter of 2017 are presented below. E (Click the icon to view the data.) Read the requirements Requirement 1. Prepare StuFi's static budget of operating income for the third quarter of 2017. (Do not round intermediary calculations. Round the amount you enter into the input cell to the nearest whole dollar.) Student Finance x Static Budget x Data Table A Requirement 2017 Loans Static Budget Actual Results Revenues Variable costs: Professional labor 8,600 11,640 New loans originated Average amount of loan Variable costs per loan 1. Prepare StuFi's static budget of operating income for the third quarter of 2017 2. Prepare an analysis of variances for the third quarter of 2017; identify the sales volume and flexible budget variances for operating income. 3. Compute the professional labor price and efficiency variances for the third quarter of 2017 4.What factors would you consider in evaluating the effectiveness of professional labor in the third quarter of 2017? $ 149,000 $166,000 Credit verification Federal doc fees Professional labor S 480 (10 hrs at $48 per hour) $ 676 (13 hrs at $52 per hour) 105 Courier services Credit verification $ 105 $ Federal documentation fees $ 110 $ 113 Print Done Total variable costs Contribution margin Fixed administrative costs $ 85 $ 88 Courier services Administrative costs (fixed) Technology costs (fixed) $ 820,000 $ 967,000 Fixed technology costs $ 1.400.000 $ 1,513,000 Operating income Print Done Enter any number in the edit fields and then click Check Answer. 2