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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

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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 Fixed Cost Cost per Cost per per Month Course Student Instructor wages $ 2,950 Classroom supplies $ 270 Utilities $ 1,240 30 $5,100 Insurance $2,100 Administrative expenses $3,700 $ 42 $4 $ Campus rent For example, administrative expenses should be $3,700 per month plus $42 per course plus 54 per student. The company's sales should average $850 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 61 students. The actual operating results for September were as follows: Revenue Instructor wages Classroom supplies Utilities Compus rent Insurance Administrative expenses Actual S 50,650 $ 11,200 $ 16,862 $ 1,970 55,100 $ 2,240 $ 3,546 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). 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 61 $ 50,650 Revenue Expenses Instructor wages Classroom supplies Uuties Campus rent Insurance Administrative expenses Total expense Net operating income 11,200 10,860 1,970 5,100 2,240 3,546 40,916 9,734 $

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