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 60 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Fixed Cost per Cost per Cost per Month Course $ 2,970 Student $ 300 $ 1,220 $ 85 Campus rent $ 4,500 Insurance $ 2,100 Administrative expenses $ 3,900 $ 46 $ 6 For example, administrative expenses should be $3,900 per month plus $46 per course plus $6 per student. The company's sales should average $860 per student. The company planned to run four courses with a total of 60 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September were as follows: Actual $ 48,700 $ 11,160 $ 17,850 Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Required: $ 1,970 $ 4,500 $ 2,240 $ 3,870 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.)