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. Doto concerning the company's cost formulas appear below: Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost per cost per cost per Month Course Student $ 2,910 $290 $1,220 $ 55 $4,500 $2,100 $4,000 For example, administrative expenses should be $4.000 per month plus $41 per course plus $4 per student. The company's sales should average $890 per student The company plained to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 62 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Tosurance Administrative expenses Actual $ 54,060 $ 10,920 $ 18,410 $ 1,850 $ 4,500 $ 2,240 $ 3,846 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 as positive values.) 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 as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Budget Actual Results Planning Budget 4 Courses Students 62 $ 54,060 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating incomo 10.920 18.410 1.850 4.500 2240 3,846 41.766 12.294 $