Question 3 [4 Marks] Ibrahim 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.) 0 Variable component per student (Rs.) 408 0 Revenue Teacher salaries Course materials Operating expenses Variable component per course (Rs.) 0 2,400 46 33 0 0 69 33,100 15 In November, the institute budgeted for 1,430 students and 140 courses. The actual activity for the month was 1,810 students and 139 courses. Prepare the planning budget for the month of November