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: Cost per Fixed Cost Cost per per Month Course $ 2,960 Student $ 270 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $ 85 $1,220 $ 5,000 $ 2,200 $ 3,800 $ 43 $ 4 For example, administrative expenses should be $3,800 per month plus $43 per course plus $4 per siludent. The company's sales should average $880 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 52 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 51,660 $ 11, 120 $ 16,590 $ 1,970 $ 5,000 $ 2,340 $ 3,646 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.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget Courses 4 Students 52 Revenue $ 51,660 Expenses: 11,120 Instructor wages Classroom supplies 16,590 Utilities 1,970 Campus rent 5,000 Insurance 2,340 Administrative expenses 3,646 Total expense 40,666 10,994 Net operating income $