Problem 4 Rizzio Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Fixed element Variable element Variable element per month per student per course $416 $0 $2,300 $0 $77 $25 $57,900 $16 $27 SO SO Revenue Faculty wages Course supplies Administrative expenses $0 In September, the school budgeted for 1,820 students and 173 courses. The actual activity for the month was 2,020 students and 178 courses. Required: Prepare the school's planning budget for September