One common way to store variables in a file is to simply save the NAME=value lines in the file, and then simply indicate that you want the variables to be wrapped.
echo 'STATUS="'"$STATUS"'"' >> variable.file
In Bash, you can also use source instead . although this may not be tolerable for other shells. Pay attention to the exact sequence of quotes needed to get the correct double quotes printed in the file.
If you want to put several variables into a file at once, you can do the following. Sorry for the quotation required for proper and portable work; if you're limiting yourself to bash, you can use $"" to make the quote a little easier:
for var in STATUS FOO BAR do echo "$var="'"'"$(eval echo '$'"$var")"'"' done >> variable.file
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