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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per Cost per Coat per Month Instructor wages Classroom supplies Course $ 2,910 Student $ 300 Utilities $ 1,200 $ 50 Campus rent $ 4,700 Insurance Administrative expenses $2,200 $ 3,900 $ 42 $6 For example, administrative expenses should be $3,900 per month plus $42 per course plus $6 per student. The company's sales should average $860 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September were as follows: Actual $ 50,420 Revenue Instructor wages Clasaroon supplies Utilities Campus rent Insurance Administrative expenson $ 10,920 $ 10,450 $ 1,810 $ 4,700 $2,340 $3,866 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 varlance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Courses Students Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Actual Results 4 54 $ 50,420 10,920 18,450 1,810 4,700 2,340 3,866 42,086 $ 8,334 Flexible Planning Budget Budget