The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual s 52,140 s 11,160 $ 16,490 $ 1,880 $ 4,700 $ 2,440 $ 3,886 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.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Budget Planning Budget Actual Results Courses 4 Students 58 Revenue 52,140 Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses 11,160 16,490 1,880 4,700 2,440 3,886 40,556 11,584 Total expense Net operating income The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual s 52,140 s 11,160 $ 16,490 $ 1,880 $ 4,700 $ 2,440 $ 3,886 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.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Budget Planning Budget Actual Results Courses 4 Students 58 Revenue 52,140 Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses 11,160 16,490 1,880 4,700 2,440 3,886 40,556 11,584 Total expense Net operating income