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 tun 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 per cost per cost per Month Course Student $2,980 $280 $1,210 $ 85 $4,500 $2,400 $3,800 $ 41 $ 7 For example, administrative expenses should be $3,800 per month plus $41 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 57 students. The actual operating results for September appear below: Revenue Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $53, 650 $11, 200 $ 16, 750 $ 1,960 $ 4,500 $ 2,540 $ 3,845 Required: 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. Required 1 Required 2 Required in hidt for Senterber Required: 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. Book Required 1 Required 2 Required 3 wrences Prepare the company's flexible budget for September. Gourmand Cooking School Flexible Budget For the Month Ended September 30 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Atministrative per Total expense Not operating income 0 07 5 Required: 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. Required 1 Required 2 Required Calculate the revenue and spending variances for September. (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero varianco). Input all amounts as positive values.) Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Flexible Results Variances Budget Courses 4 Students 57 $ 53,650 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expende Net operating income 11.200 16.750 1.960 4500 2500 3.845 40,795 12,855 $