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: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost per Month Cost per Course $ 2,940 Cost per Student $ 270 $ 1,220 $ 65 $ 5,100 $ 2,300 $ 3,600 $ 42 $ 4 For example, administrative expenses should be $3,600 per month plus $42 per course plus $4 per student. The company's sales should average $880 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 58 students. The actual operating results for September appear below: Revenue Actual $ 51,660 $ 11,040 $ 16,590 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: $ 1,890 $ 5,100 $ 2,440 $ 3,442 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. Required 1 Required 2 Required 3 Prepare the company's planning budget for Septembe 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 Courses Students Revenue Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Results Variances 4 58 $ 51,660 Expenses: Instructor wages 11,040 Classroom supplies 16,590 Utilities 1,890 Campus rent 5,100 Insurance 2,440 Administrative expenses 3,442 Total expense 40,502 Flexible Budget