$\backslash$table$[[$Gourmand Cooking School$],[$Flexible Budget Performance Report$],[$For the Month Ended September $30],[,$Ac$,$Results,$\backslash$table$[[$Flexible$],[$Budget$]],\backslash$table$[[$Planning$],[$Budget$]]],[$Courses$,,4,,],[$Students$,,60,,],[$Revenue$,$$$,54,700,,],[$Expenses:$],[$Instructor wages,,$11,120,,],[$Classroom supplies,,$16,490,,],[$Utilities$,,1,980,,],[$Campus rent,,$4,800,,],[$Insurance$,,2,440,,],[$Administrative expenses,,$3,730,,],[$Total expense,,$40,560,,],[$Net operating income,$$,14,140,,]]$The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports$$the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of $64$ students enrolled in those two courses. Data concerning the company$$s cost formulas appear below:

Fixed Cost per Month Cost per Course Cost per

Student

Instructor wages $ $2,960$

Classroom supplies $ $260$

Utilities $ $1,230$ $ $85$

Campus rent $ $4,800$

Insurance $ $2,300$

Administrative expenses $ $3,800$ $ $46$ $ $5$

For example, administrative expenses should be $$3,800$ per month plus $$46$ per course plus $$5$ per student. The company$$s sales should average $$900$ per student.

The company planned to run four courses with a total of $64$ students; however, it actually ran four courses with a total of only $60$ students. The actual operating results for September appear below:

Actual

Revenue $ $54,700$

Instructor wages $ $11,120$

Classroom supplies $ $16,490$

Utilities $ $1,980$

Campus rent $ $4,800$

Insurance $ $2,440$

Administrative expenses $ $3,730$

Required:The Gourmand Cooking School runs short cooking courses at its small campus. Management has 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 $64$ students enrolled in those two courses. Data concerning the company's cost formulas

appear below:

For example, administrative expenses should be $$3,800$ per month plus $$46$ per course plus $$5$ per student. The company's sales

should average $$900$ per student.

The company planned to run four courses with a total of $64$ students; however, it actually ran four courses with a total of only $60$

students. The actual operating results for September appear below:

Required:

Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.

$($Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$.,$ zero

variance$).$ Input all amounts as positive values.$)$