Co Seved Help Save C 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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below Fixed Cost Cost per per Month Course $ 2,920 Cost per Student $ 270 $ 65 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $1,210 55,100 $2,200 $3,600 $ 41 $ 6 For example, administrative expenses should be $3,600 per month plus $41 per course plus $6 per student. The company's sales should average $860 per student The company planned to run four courses with a total of 62 students, however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below + The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below: Sint Revenue Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Actual $ 50,420 $ 10,960 $ 16,500 $1,550 $ 5,100 $ 2,340 $3,562 eBo Print References Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for Sptember (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., ze variance). Input all amounts as positive values.) Goutmand Cooling School Flexible Budget Performance Report For the Month Endod September 30 Actual Results Rovenue and Spending Variances Flexible Budget Activity Variances Planning Budget 4 4 Courses Students 54 54 62 ces $ 50,420 LU Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 10,960 16,590 1,880 5.100 2,340 3,562 40.432 9.988 None F LU $