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: Pixed Cost per cost per cost per Month Course Student Instructor wages $ 2,960 Classroom supplies $280 Utilities $1,240 $ 85 Campus rent $5,200 Insurance $2,300 Administrative expenses $3,800 42 $ 6 $ For example, administrative expenses should be $3,800 per month plus $42 per course plus $6 per student. The company's sales should average $900 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 53 students. The actual operating results for September were as follows: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 53,800 $11,120 $ 17,490 $ 1,990 $ 5,200 $ 2,440 $ 3,772 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 variance). Input all amounts as positive values.) 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 variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Revenue and Flexible Actual Results Spending Variances Budget Activity Variances Planning Budget 4 Courses Students 4 53 53 $ 53,800 Revenue Expenses Instructor wages Classroom supplies Utilities Campus ront Insurance Administrative expenses Total expense Net operating income 11,120 17.490 1.990 5,200 2,440 3,772 42,012 11,788 $