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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

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 65 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost Cost per Cost per per Month Course Student $2,950 $310 $1,210 $ 75 $4,700 $2,400 $3,600 $ 45 $4 For example, administrative expenses should be $3,600 per month plus $45 per course plus $4 per student. The company's sales should average $900 per student. The company planned to run four courses with a total of 65 students; however, it actually ran four courses with a total of only 63 students. The actual operating results for September appear below. Actual Revenue $ 55,600 Instructor wages $ 11,080 Classroom supplies $ 20,000 Utilities $ 1,920 Campus rent $ 4,700 Insurance $ 2,540 $3,466 Administrative expenses 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 es positive values.)

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