6 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 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below. 2.5 points eks Instructor wages Classroon supplies Utilities Campus rent Insurance Adninistrative expenses Fixed Cort per cont per Cort per Month Coara BELL Student $ 2,910 $ 280 1,219 $4,700 $2,100 $ 3,600 . For exemple, administrative expenses should be $3.500 per month plus $46 per course plus $3 per student. The company's sales should everage 5860 per student References The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 60 students. The actual operating results for September were as follows: Revenge Tontractor wages Classroon sueplies Utilities Carua rent Insurance Adninistrative expenses Actual $ 52,140 $ 10,920 $ 17,770 5 1,860 $4,700 5 2.200 $ 3,402 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity 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.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Resulte Budget Planning Budget Courses 4 mar 6 Actual $ 52,140 $ 10,920 $ 17,770 $ 1,860 84,700 $ Revenac Tontractor wa Classroon supplies Utilities Campus rent Tourance Adoninistrative expenses 2.5 points 2,240 eks Required: Prepare a flexible budget performance report thet shows both revenue and spending variences and activity 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.) PAY References Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Results Budget Planning Budget 4 60 52,140 S s Courses Students Revenue Expenses Instructor wages Classroom supplies Ulities Campus rent Insurance Admnistrative expenses Total apranga Not operating income 10,620 17,770 1,866 4,700 2,240 3,402 40,892 11,248 S mar