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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost Cost per per Month Course $ 2,960 Cost per Student $270 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $ $1,220 55,000 $2,100 $3.50 41 For example, administrative expenses should be $3.500 per month plus $41 per course plus 51 per student. The company's sales should average $890 per student The company planned to run four courses with a total of 62 students, however, it actually can four courses with a total of only 60 students. The actual operating results for September were as follows Revenge Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Actual $ 52,280 511,120 116,500 $ 1.800 $ 5.000 $ 2,440 $3,33 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity vartances 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 os positive volues.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget Courses Students 4 00 $ 52.200 Revenue Expenses Instructor wages Classroom supplies Uits Campus Tent Insurance Administrative expenses Total expense Net operating income 11.120 16.500 1.000 5,000 2440 3.338 40,378 11 902 5