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Graduabe Finance (GradFi) is a startup that aims to use the power of social communities to
transform the student loan makket. If connects participants through a dedicated lending pool,
enobling curreot students to bocrow from a schools aluinni community. GradFis revenue model
is to take an upfront fee of 30 basis points (D. 30h ) each from the alur investor and the student
boitrower for every loan oniginated on is platform Gradif topes to go poblic in the near future
and is keen lo enisure that its financial results are in ine with that ambition. GradFis busgeted and
actual resuls lor the third quarter of 2020 are preserited below. (Cick the icon to view the dath)
Riead the teoriontents Data table Requirement 1. Prepare Gradfis statie budget of input fed to the
neweet whole dollar)
1. Prepare GradFi's static budget of operating income for the third quarter of 2020. 2. Prepare an
analysis of variances for the third quarter of 2020; identify the sales volume and flexible budget
variances for operating income. 3. Compute the professional labor price and efficiency variances
for the third quarter of 2020. 4. What factors would you consider in evaluating the effectiveness
of professional labor in the third quarter of 2020 ?

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