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 Fixed cost Cost per Cost per per Month Course Student Instructor wages $ 2,960 Classroon supplies $ 310 Utilities $1,250 585 Campus rent $ 5,200 Tosurance $ 2,200 Administrative expenses $ 3.700 545 $6 For example, administrative expenses should be $3700 per month plus $45 per course plus $6 per student. The company's sales should average 5860 per student The company planned to run four courses with a total of 1 students, however, it actually ran four courses with a total of only 57 students. The actual operating results for September appear below Actual Revenue $ 49,560 Instructor wages $ 11,120 Classroon supplies $ 13,760 Utilities $ 2.000 Campus rent $5,200 Insurance $ 2,340 Administrative expenses $ 3,672 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 0 UD 0 Required 1 Required 2 Required 3 Prepare the company's flexible budget for September. 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 0 $ 0 Required 1 Required 2 Required 3 Calculate the revenue and spending variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "u for unfavorable, and "None" for no effect (le, zero variance). Input all amounts as positive values.) Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Results Variances 4 Flexible Budget Courses Students 57 S 49,560 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11.120 18.760 2,000 5.200 2,340 3.672 43,092 6,468 $