Monogram or symbol on the work in 1927
 

Maybe somebody encountered similar: either a monogram, or symbol?
About the work:
Butter (a paste-like) on the canvas, which can be called a rather thin linen. Judging by the tracks on the back - was pasted on cardboard or something similar.

This is not necessarily a monogram.
This is often observed by students of art schools, colleges and institutes.
In view some works are selected in the methodological foundation.
F - Foundation
27 - Number assigned fondovskoy work.
Ideally, the work must still be stamped institution.

Well, yes. Student's work perfectly.

Does twenties years?

Perhaps.