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 $ 243 $ 0 Faculty wages $ 0 $ 0 $ 2,990 Course supplies $ 0 $ 41 $ 29 Administrative expenses $ 25,950 $ 16 $ 41 In March, the school budgeted for 1,800 students and 77 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 1,700 Actual courses 80 Revenue $ 356,340 Expenses: Faculty wages 209,450 Course supplies 57,090 Administrative expenses 57,562 Total expense 324,102 Net operating income $ 32,238 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). (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.)