Exercise 9-6 (Algo) Working with More Than One Cost Driver [LO9-2, LO9-3, LO9-5, LO9-6] 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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per Cost per Cost per Month S Instructor wages Classroom supplies Course $ 2,940 Student $ 300 Utilities $ 1,210 $ 60 Campus rent $ 4,600 Insurance $ 2,100 Administrative expenses $ 3,800 $ 44 $ 5 For example, administrative expenses should be $3,800 per month plus $44 per course plus $5 per student. The company's sales should average $850 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 were as follows: Revenue Instructor wages Actual $ 49,800 $ 11,040 $ 18,450 Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: $ 1,860 $ 4,600 $ 2,240 $ 3,712