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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

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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 Variable element Variable element per student $ 263 per month per course Revenue Faculty wages Course supplies Administrative expenses $3,030 $ 33 $ 45 $ 45 $ 20 $26,150 In March, the school budgeted for 1,840 students and 81 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 Actual courses Revenue Expenses: 1,740 84 $376,340 Faculty wages Course supplies Administrative expenses 211,450 59,090 67,062 337,602 $38,738 Total expense Net operating income 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.)

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