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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 61 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost per Cost per Cost per Month Course Student $2,920 $280 $1,240 $ 75 $5,100 $2,100 $3,700 $ 46 $ 3 For example, administrative expenses should be $3,700 per month plus $46 per course plus $3 per student. The company's sales should average $870 per student. The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 59 students. The actual operating results for September appear below: Actual Revenue $50,170 Instructor wages $10,960 Classroom supplies $16,930 Utilities $ 1,950 Campus rent $ 5,100 Insurance $ 2,240 Administrative expenses $ 3,493 Required: 1. Prepare the company's planning budget for September. 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September. Required 1 Required 2 Required 3 Prepare the company's planning budget for September. Gourmand Cooking School Planning Budget For the Month Ended September 30 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Required 1 Required 2 Required 3 Prepare the company's flexible budget for Septem Gourmand Cooking School Flexible Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Required 1 Required 2 Required 3 Calculate the revenue and spending variances for September. (Indicate the effect of each favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amo Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Results Variances Flexible Budget Courses Students Revenue 50,1701 Expenses: Instructor wages Classroom supplies Utilities Campus rent 10,960 16,930 1,950 5,100 2,240 3,493 40,673 9,497 Insurance Administrative expenses Total expense Net operating income $