Question Completion Status: 6. Cosme 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: Variable course SO Revenue Faculty wages... Course supplies..... .. Administrative expenses....... Fixed element Variable element per month per student $336 SO $52 S47700 $13 0 $2,000 $30 $29 In April, the school budgeted for 1,870 students and 174 courses. The school's income statement showing the actual results for the month appears below: Cosme Tech Income Statement For the Month Ended April 30 Actual students. Actual courses............................ 1,670 172 Revenue Expenses Faculty wages Course supplies............. Administrative expenses. Total expense... Net operating income 350, 110 93.040 75,728 518.878 $31.722 Required: Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances for April, Label each variance as favorable (F) or unfavorable (U)