CH 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 63 students enrolled in those two courses. Data concerning the company's cost formulas appear below 6 Fixed Cost per cost per cost per Honth Course Student Instructor wages $ 2.970 classroon supplies $ 270 Utilities $1,220 $_35 Campus rent $4,600 Insurance 5 2. 100 Administrative expenses $ 3,500 5.43 $.5 For example, administrative expenses should be $3,600 per month plus 543 per course plus 55 per student. The company's sales should average $870 per student The company planned to run four courses with a total of 63 students, however it actually ran fout courses with a total of only 61 students. The actual operating results for September were as follows Actual Revenue $ 51,910 Instructor wages $ 11,160 Classroom supplies $ 16,860 Utilities $ 1,970 Campus rent $ 4,600 Insurance $ 2,240 Administrative expenses $ 3,513 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 unfovorable, and "None" for no effectie, zero voronce). Input all amounts os positive values.) Flexible Budget Performance Report For the Month Ended September 30 Actual Results Revenue and Flexible Spending Variances Budget Activity Variances Planning Budget 4 4 61 $ 51.910 $ 1,160 61 5 53,070 $ 1,740U 63 $ 54,810 Courses Students Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11.160 7201F 16,860 3900 1970 410U 4,600 O None 2240 1400 3,513 66 F 40 343 286 F 11,567 $ 1.446 (U 11,880 0 None 16,470 540 1.560 o None 4,600 O None 2.100 0 None 3,447 101 40.057 550F $ 13,013 $ 1190 U 11.880 17.010 1,560 4,600 2.100 3,457 40,607 14203 5 $