TB Problem Qu. 9-402 Roberds Tech is a for-profit vocational... 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 month per student per course Revenue $ 233 $ Faculty wages $2,970 Course supplies 39 $ Administrative expenses $25,850 $ $ $ @ 0 $ $ 27 39 14 $ In March, the school budgeted for 1,780 students and 75 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 1,680 Actual courses 78 Revenue $346, 340 Expenses: Faculty wages 208,450 Course supplies 56,099 Administrative expenses 53,562 Total expense 318,102 Net operating income $ 28,238 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.) Roberds Tech quired: epare a flexible budget performance report showing both the school's activity variances and Venue and spending variances for March. Label each variance as favorable (F) or unfavorable (U). ndicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and Hone" 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 Activity Variances Planning Budget Flexible Budget + 1,680 78 Students 1.680 78 1,780 75 Pourses levenue Expenses: Faculty wages Course supplies Administrative expenses otal expense let operating income