Exercise 9-18 Working with More Than One Cost Driver [LO9-2, LO9-3, LO9-4, LO9-5] 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 reportsthe 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 60 students enrolled in those two courses. Data concerning the companys cost formulas appear below: Fixed Cost per Month Cost per Course Cost per Student Instructor wages $ 2,980 Classroom supplies $ 270 Utilities $ 1,230 $ 85 Campus rent $ 4,600 Insurance $ 2,000 Administrative expenses $ 3,700 $ 43 $ 6 For example, administrative expenses should be $3,700 per month plus $43 per course plus $6 per student. The companys sales should average $890 per student. The company planned to run four courses with a total of 60 students; however, it actually ran four courses with a total of only 52 students. The actual operating results for September appear below: Actual Revenue $ 50,500 Instructor wages $ 11,200 Classroom supplies $ 16,050 Utilities $ 1,980 Campus rent $ 4,600 Insurance $ 2,140 Administrative expenses $ 3,658 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.)