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 63 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance Adninistrative expenses Fixed Cost Cost per cost per per Month Course Student $ 2,950 $ 29e $1,210 $ 85 $ 4,800 $2,100 $ 3,800 44 For example, administrative expenses should be $3,800 per month plus $44 per course plus $6 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 63 students, however, it actually ran four courses with a total of only 57 students. The actual operating results for September appear below: Actual Revenue $ 53,170 Instructor wages $ 11,080 Classroom supplies $ 18,120 Utilities $ 1,960 Campus rent $ 4,800 Insurance $ 2,240 Administrative expenses $ 3,780 Required: Prepare a flexible budget performance report that shows both revenue and spending opances and activity variances for September (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $ 11,080 $ 18,120 $ 1,960 $ 4,800 $ 2,240 $ 3,789 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 (l.e., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget 4 Courses Students 57 $ 53,170 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total exponse Not operating income 11,080 18,120 1,960 4,800 2,240 3,780 41.980 11,100 $