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 (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 5 $ 243 $ 0 Faculty wages $ 0 $ 0 $2,990 Course supplies $ 0 $ 41 $ 29 Administrative expenses $25,950 $ 16 $ 41 0 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: 1,700 $356, 340 Roberds Tech Income Statement For the Month Ended March 31 Actual students Actual courses Revenue Expenses Paculty wagen Course supplies Administrative expenses Total expense Het operating income 209,450 57,090 57.562 324, 102 $ 32,230 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 (lo zero variance). Input all amounts as positive values.) Roberds Tech Flexible Budget Performance Report For the Month Ended March 31 Actual Revenue and Flexible Results Spending Variances Budget 1,700 80 80 Activity Variances Planning Budget 1,700 1,500 77 Students Courses Revenue Served 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 Tor 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 Bet operating income $ 32,238 320 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 (le, zero variance). Input all amounts as positive values.) Robards Tech Flexible Budget Performance Report For the Month Ended March 31 Actual Revenue and Flexible Results Spending Variances Budget 1,700 1,700 80 80 Activity Variances Planning Budget 1.800 77 Students Courses Revenue Expenses Faculty wages Course supplies Administrative expenses Total expense Not operating income