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 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per Month Cost per Cost per Course Student Utilities Instructor wages Classroom supplies Campus rent Insurance $ 2,978 $ 290 $ 1,200 $ 85 $ 5,000 $ 2,100 Administrative expenses $ 3,500 $ 43 $6 For example, administrative expenses should be $3,500 per month plus $43 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 64 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September were as follows: Actual $ 52,148 Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: $ 11,160 $ 18,418 $ 1,950 $ 5,000 $ 2,248 $ 3,482 Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances 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. Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Courses Students Revenue Actual Results 4 58 S 52,140 Expenses Instructor wages 11,160 Classroom supplies 18,410 Utilities 1,950 Campus rent 5,000 Insurance 2,240 Administrative expenses 3,482 Total expense 42,242 Net operating income S 9,898 Flexible Budget Planning Budget