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 Student $ 1,210 $ 4,800 $ 2,200 $ 3,500 Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Course $ 2,940 $ 60 $ 45 For example, administrative expenses should be $3,500 per month plus $45 per course plus $4 per student. The company's sales should average $860 per student. $ 280 The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 53 students. The actual operating results for September were as follows: Actual $ 49,560 $ 11,040 $ 16,930 $ 1,860 $ 4,800 $4 $ 2,340 $ 3,350 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 all amounts as positive values.)

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 fornutas appear below: For example, administrative expenses should be $3.500 per month plus $45 per course plus $4 per student. The company's sales should average $860 per student. The company planned to run four courses with a totat of 61 students howevec it actually ran four courses with a total of oniy 53 students. The actual operating results for Septomber were as follows: Required: Prepare a flexble 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 (lie, zero Required: Prepare a tlexble 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 p.e., zero variance). Input all amounts as positive values.)