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: Revenue Faculty wages Course supplies Administrative expenses Fixed element Variable element Variable element per month per student per course $ 0 $ 218 $ 0 $ 0 $ 0 $ 2,940 $ 0 $ 36 $ 24 $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). (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.)