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The Gourmand Cooking School runs short cooking courses at its small campus. Management hos identified two cost drivers it uses in 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: Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost Cost per cost per per Month Course Student $ 2,918 $ 260 $ 1,240 $ 75 $5,000 $ 2,200 $ 3,700 $ 45 $ 6 For exemple, administrative expenses should be $3,700 per month plus $45 per course plus $6 per student. The company's sales should average $870 per student. The company planned to run four courses with a total of 62 students; however, it actually ren four courses with a total of only 58 students. The actual operating results for September appear below. Revenue Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Actual $ 51,840 $ 10,920 $ 15,970 $ 1,950 $ 5,220 $ 2,340 $ 3,678 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (Indicate the effect of each varlance 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 4. Courses Students 58 S 51,040 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance 10,920 15,970 1,950 5,000 2,340 3,676 39,658 11,182 Administrative expenses Total expense Net operating income S