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		$	253		$	0
Faculty wages	$	0		$	0		$	3,010
Course supplies	$	0		$	43		$	31
Administrative expenses	$	26,050		$	18		$	43

In March, the school budgeted for 1,820 students and 79 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		1,720
Actual courses		82
Revenue	$	366,340
Expenses:
Faculty wages		210,450
Course supplies		58,090
Administrative expenses		62,062
Total expense		330,602
Net operating income	$	35,738

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). (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.)

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). (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.) Roberds Tech Flexible Budget Performance Report For the Month Ended March 31 Actual Results Revenue and Spending Variances Flexible Budget Activity Variances Planning Budget Students 1,720 1,720 1,820 Courses 82 82 79 Revenue Expenses: Faculty wages Course supplies Administrative expenses Total expense Net operating income