1 The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 61 students enrolled in those two courses. Data concerning the company's cost formulas appear below: 3.33 points eBook Fixed Cost per cost per cost per Month Course Student $ 2,910 $ 290 $1,230 $ 80 $ 4,900 $2,100 $ 4,000 $ 40 $ 5 Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses Print References For example, administrative expenses should be $4,000 per month plus $40 per course plus $5 per student. The company's sales should average $900 per student. The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 57 students. The actual operating results for September appear below: Revenue Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 52,000 $ 10,920 $ 17,540 $ 1,960 $ 4,900 $ 2, 240 $ 3,891 1 Required: 1. Prepare the company's planning budget for September. 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September. 3.33 points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Print Required 3 References Prepare the company's planning budget for September. Gourmand Cooking School Planning Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Required 1 Required 2 Required 3 Prepare the company's planning budget for September. 3.33 points Gourmand Cooking School Planning Budget For the Month Ended September 30 eBook Print References Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 0 $ 0 Required 1 Required 2 Required 3 Prepare the company's flexible budget for September. 3.33 points Gourmand Cooking School Flexible Budget For the Month Ended September 30 eBook Print References Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense 0 Net operating income 0 1 NcYuri cu 2 . 1 Calculate the revenue and spending variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 3.33 points Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Results Variances 4 eBook Flexible Budget Print Courses Students References 57 $ 52,000 Revenue Expenses: Instructor wages Classroom supplies Utilities 10,920 17,540 1,960 4,900 Campus rent Insurance 2,240 3,891 Administrative expenses Total expense Net operating income 41,451 10,549 $