Exercise 9-12 Working with More Than One Cost Driver [LO9-1, LO9-2, LO9-3] 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 65 students enrolled in those two courses. Data concerning the company's cost formulas appear below Fixed Cost Cost per Cost per ook per Month Course Student Instructor wages Classroom supplies $ 2,940 $300 Print $ Utilities 1,230 4,800 65 Campus rent Insurance 2,000 Administrative erences $ 6 3,600 41 expenses For example, administrative expenses should be $3,600 per month plus $41 per course plus $6 per student. The company's sales should average $850 per student. The company planned to run four courses with a total of 65 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September appear below Actual $52,350 $11,040 $19,350 $ 1,900 $ 4,800 $ 2,140 $ 3,580 Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses 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