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: $ 300 Fixed Cost Cost per Cost per per Month Course Student Instructor wages $ 2,970 Classroom supplies Utilities $ 1,230 $ 70 Campus rent $ 4,700 Insurance $ 2,100 Administrative expenses $ 3,800 For example, administrative expenses should be $3,800 per month plus $40 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 64 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below: $ 40 $ 3 Actual Revenue $ 52,780 Instructor wages $ 11,160 Classroom supplies $ 19,050 Utilities $ 1,920 Campus rent $ 4,700 Insurance $ 2, 240 Administrative expenses $ 3,578 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 Budgeted courses 55,680 A 55,680 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 5,940 19,200 1,370 % 4,700 2,100 4,072 % 37,382 18,298 S CA XXXXX > OOX F 2,100 F F 4,042 32,052 F F