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 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost Cost per Cost per per Month Course Student Instructor wages $ 2,950 Classroom supplies $300 Utilities $ 1,210 $ 75 Campus rent $5,100 Insurance $2,000 Administrative expenses $3,800 $ 41 $ 4 For example, administrative expenses should be $3,800 per month plus $41 per course plus $4 per student. The company's sales should average $880 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 58 students. The actual operating results for September appear below: Actual Revenue $ 53,420 Instructor wages $ 11,080 Classroom supplies $ 19,050 Utilities $ 1,920 Campus rent $ 5,100 Insurance $ 2,140 Administrative expenses $ 3,646 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.) Courses Students Revenue Expenses: 11,080 - 19,050 - - 42,936 - Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income