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 63 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 Cost per Cost per per Month Course $2,930 Student $ 300 $1,200 $ 60 $ 4,600 $ 2,200 $ 3,900 For example, administrative expenses should be $3,900 per month plus $44 per course plus $4 per student. The company's sales should average $860 per student. The company planned to run four courses with a total of 63 students; however, it actually ran four courses with a total of only 59 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $51,280 $11,000 $18,750 $ 1,850 $4,600 $2,340 $ 3,754 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 3. Prepare the company's planning budget for September. Gourmand Cooking School Planning Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities . Campus rent Insurance Administrative expenses es Required 1 Required 2 Required 3 Prepare the company's planning budget for September. 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 69 $ 0 < Required 1 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 69 $ 0 0 Calculate the revenue and spending 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 Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Variances Flexible Budget Courses Students Revenue Results 4 59 $ 51,280 Expenses: Instructor wages 11,000 Classroom supplies 18,750 Utilities 1,850 Campus rent 4,600 Insurance 2,340 Administrative expenses 3,754 Total expense 42,294 Net operating income $ 8,986