PART 4 4-1 Sonner Tech is for-profit vocational school. The school bases its budgets on two measures of activity (i.e. cost drivers), namely student an dcourse. The school uses the following data in its budgeting: Fixed element per Variable element Variable element Month 0 0 Per Student $454 Per Course 0 Revenue Faculty Wages Course Supplies 0 Admin Expenses $64,400 In September the school budgeted for 1,760 students and 156 courses. The actual level of activity for the month was 1,560 students and 153 courses. 0$2,900 $77 $17 $13 $35 REQUIRED: Prepare the school's flexible budget for the actual level of activity in September: Actual Students Actual Courses Revenue Expenses: Faculty wages Course supplies Admin expenses Total expense Net Operating Income