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 i Fixed Cost Cost per Cost per per Month Course $ 2,960 Student $ 2901 $ 1,200 $ 60 $ 5,200 $ 2,300 $ 3,700 $ 43 $7 For example, administrative expenses should be $3,700 per month plus $43 per course plus $7 per student. The company's sales should average $870 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 61 students. The actual operating results for September appear below: Actual Revenue $ 53,650 Instructor wages $ 11,120 Classroom supplies $ 18,700 Utilities $ 1,850 Campus rent Insurance Administrative expenses Required: $ 5,200 $ 2,440 $ 3,753 1. Prepare the company's planning budget for September. 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September. Complete this question by entering your answers in the tabs below. Prepare the company's planning budget for Septe Gourmand Cooking School Planning Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 0 $ 0 Gourmand Cooking School Flexible Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 0 $ 0 < Required Courses Students Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income manice). Input dil di Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Variances Flexible Budget Results 4 61 $ 53,650 $ 53,070 61 11,120 18,700 1,850 5,200 2,440 3,753 43,063 $ 10,587 < Required 2 Required 3