The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses for budgeting purposesthe 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 companys cost formulas appear below:

	Fixed Cost per Month	Cost per Course	Cost per Student
Instructor wages		$ 2,960
Classroom supplies			$ 280
Utilities	$ 1,240	$ 75
Campus rent	$ 5,200
Insurance	$ 2,300
Administrative expenses	$ 3,500	$ 41	$ 4

For example, administrative expenses should be $3,500 per month plus $41 per course plus $4 per student. The companys sales should average $850 per student.

The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 53 students. The actual operating results for September were as follows:

	Actual
Revenue	$ 48,950
Instructor wages	$ 11,120
Classroom supplies	$ 16,930
Utilities	$ 1,950
Campus rent	$ 5,200
Insurance	$ 2,440
Administrative expenses	$ 3,334

Required:

Prepare a flexible budget performance report for September.

Note: 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.

Actual Results | ________ | Flexible Budget | _________ | Planning Budget