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 50 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. $ 3,080 Classroom supplies. $ 260 Utilities $ 870. $130 Campus rent. $ 4200. Insurance. $ 1890 Administrative expenses $3270. $15. $4 For example, administrative expenses should be $3,270 per month plus $15 per course plus $4 per student. The company's sales should average $800 per student. The company planned to run three courses with a total of 45 students; however, it actually ran three courses with a total of only 42 students. The actual operating results for September were as follows: Actual Revenue. $32400 Instructor wages. $9080 Classroom supplies. $8540 Utilities. $1530 Campus rent. $4200 Insurance. $1890 Administrative expenses. $3790 Required: Make 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.)

Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Revenue and Flexible Planning Actual Results Spending Variances Budget Activity Variances Budget Courses 3 3 Students 42 42 Revenue $ 32,400 U U Expenses: Instructor wages 9.080 F None Classroom supplies 8,540 F F Utilities 1 530 None Campus rent 4,200 None 4,200 None 4,200 Insurance 1,890 None 1,890 None 1,890 Administrative expenses 3,790 U F Total expense 29,030 F Net operating income $ 3,370 UThe Gourmand Cooking School runs short cooking courses at its small campus. Management has identied two cost drivers it uses in its budgeting and performance reportsthe number of courses and the total number of students. For exam ple, the school might run two courses in a month and have a total of 50 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 $ 3,886 Classroom supplies $ 269 Utilities $ 873 $ 139 Campus rent $ 4,299 Insurance $ 1,899 Administrative expenses $ 3,278 $ 15 $ 4 For example, administrative expenses should be $3,270 per month plus $15 per course plus $4 per student. The company's sales should average $800 per student. The company planned to run three courses with a total of 45 students: however, it actually ran three courses with a total of only 42 students. The actual operating results for September were as follows: Actual Revenue $ 32,488 Instructor wages $ 9,689 Classroom supplies $ 8,549 Utilities $ 1,538 Campus rent $ 4,268 Insurance $ 1,896 Administrative expenses $ 3,798 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.)