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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

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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 61 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per cost per cost per Month Course Student Instructor wages $ 2,970 Classroon supplies $ 290 Utilities 5 1,230 585 Campus rent $ 5,180 Insurance $ 2,300 Administrative expenses $ 3,500 $43 $7 For example, administrative expenses should be $3.500 per month plus $43 per course plus 57 per student. The company's sales should average $880 per student The company planned to run four courses with a total of 61 students, however, it actually ran four courses with a total of only 55 students. The actual operating results for September were as follows: Actual Revenue $ 50,788 Instructor wages $ 11, 160 Classroom supplies $ 17,540 Utilities $ 1,982 Campus rent $ 5,00 Insurance $ 2,440 Administrative expenses $ 3,525 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each verlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le., zero variance). Input all amounts es positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 A Actual Results Revenue and Spending Varances Activity Variances Planning Budget 4 55 50.780 $ 2.380 F Flexible Budget 4 55 $ 48.400 $ U 5 53.680 11.880 Courses Students Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11,180 720 17.540 1.50010 1.080 41010 5.100 oone 2.440 1400 3.525 307 F 41.745 1,0530 0.035 $ 1.327 11,080 ofone 15.950 2010 1,570 Onong 5.100 Onone 2.300 ohne 3,892 24 F 40.0921 1.764 57.7083 3.5180 17.000 1.570 5.100 2.300 3,010 42450 3 11.224 5

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