Question 1. [4 Marks]

Cynthia Institute of Vocational Learning is an academic institute which prepares its budget based upon two cost drivers, namely number of students and number of courses. The budgeting data given below relates to the month of November:

	Fixed component per month (Rs.)	Variable component per student (Rs.)	Variable component per course (Rs.)
Revenue	0	408	0
Teacher salaries	0	0	2,400
Course materials	0	69	46
Operating expenses	33,100	15	33

In November, the institute budgeted for 1,420 students and 150 courses. The actual activity for the month was 1,810 students and 139 courses.

Prepare the planning budget for the month of November.