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 reportsthe 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 Cost per Cost per Student Fixed Cost per Month Course $ 2,970 $ 260 $ 1,240 $ 70 $ 4,600 $ 2,400 $ 4,000 $ 44 $ 6 For example, administrative expenses should be $4,000 per month plus $44 per course plus $6 per student. The company's sales should average $890 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 57 students. The actual operating results for September appear below: Actual $ 53,170 Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: $ 11,160 $ 16,230 $ 1,930 $ 4,600 $ 2,540 $ 3,980 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 Total expense Net operating income 0 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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 Administrative expenses Total expense Net operating income 0 $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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 Results Variances Flexible Budget Courses Students Revenue Expenses: Instructor wages 4 57 $ 53,170 11,160 Classroom supplies 16,230 Utilities 1,930 Campus rent 4,600 Insurance 2,540 Administrative expenses 3,980 Total expense 40,440 Complete this question by enter Net operating income $ 12,730