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 Cost per per Month Instructor wages Classroom supplies Utilities Campus rent Insurance Course $ 2,960 Cost per Student $ 260 $1,220 80 $ 5,000 $ 2,300 Administrative expenses $ 3,900 $ 42 $ 3 For example, administrative expenses should be $3,900 per month plus $42 per course plus $3 per student. The company's sales should average $890 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 were as follows: Actual Revenue $ 52,280 Instructor wages $ 11,120 Classroom supplies $ 15,970 Utilities $ 1,950 Campus rent Insurance Administrative expenses $ 5,000 $ 2,440 $ 3,680 Courses Students Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results 4 58 $ 52,280 11,120 15,970 1,950 5,000 2,440 3,680 40,160 $ 12,120 Flexible Planning Budget Budget