The photocopying department in a community college has budgeted monthly costs at $32,000 per month plus $8 per student. Normally 700 students are enrolled. During January there were 640 students (which is within the relevant range). At the end of the month, actual fixed costs were $34,700, and variable costs were $3,720. Develop a static budget for photocopying costs based on 700 students. $ Variable Costs Fixed Costs Total Costs $ Calculate the January static budget variance for fixed and variable photocopying costs. Variance Variable Costs $ Fixed Costs Unfavorable Favorable Neither Favorable nor Unfavorable Total Costs Develop a flexible budget for the actual volume of students in January. Variable Costs $ Fixed Costs Total Costs $ Calculate the January flexible budget variance for fixed and variable photocopying costs. Variance Variable Costs $ Fixed Costs Neither Favorable nor Unfavorable Unfavorable Favorable Total Costs