Roberds 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 $ $0$ $ $218$ $ $0$

Faculty wages $ $0$ $ $0$ $ $2,940$

Course supplies $ $0$ $ $36$ $ $24$

Administrative expenses $ $25,700$ $ $11$ $ $36$

In March, the school budgeted for $1,750$ students and $72$ courses. The school's income statement showing the actual results for the month appears below:

Roberds Tech

Income Statement

For the Month Ended March $31$

Actual students $1,650$

Actual courses $75$

Revenue $ $331,340$

Expenses:

Faculty wages $206,950$

Course supplies $54,590$

Administrative expenses $47,562$

Total expense $309,102$

Net operating income $ $22,238$

Required:

Prepare a flexible budget performance report showing both the school's activity variances and revenue and spending variances for March. Label each variance as favorable $($F$)$ or unfavorable $($U$).$

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$ Input all amounts as positive values.