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. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses per Month Fixed Cost Cost per Course $ 2,930 Cost per Student $310 $1,230 $ 65 $5,000 $2,200 $3,800 $ 43 $ For example, administrative expenses should be $3,800 per month plus $43 per course plus $3 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 60 students. The actual operating results for September appear below: Revenue Actual $ 54,060 Instructor wages $ 11,000 Classroom supplies $ 19,690 Utilities $ 1,900 Campus rent $ 5,000 Insurance Administrative expenses $ 2,348 $ 3,598 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.)