The 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 example, the school might run two courses in a month and have a total of 62 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 $ 2,940 Classroom supplies $ 280 Utilities $ 1,240 $ 70 Campus rent 5 4,600 Insurance 5 2,000 Administrative expenses 5 3,900 S 44 $ 6 For example, administrative expenses should be $3,900 per month plus $44 per course plus $6 per student. The company's sales should average $900 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 58 students. The actual operating results for September appear below: Actual Revenue $ 52,900 Instructor wages $ 11,040 Classroom supplies $ 17,210 Utilities S 1,930 Campus rent $ 4,600 Insurance $ 2,140 Administrative expenses $ 3,874 Required 1 Required 2 Required 3 Prepare the company's planning budget for September. Actual students 9 58 9 $ Revenue Expenses: Instructor wages Campus rent Insurance Administrative expenses Total expense Net operating income Required 2 > 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 Actual courses Actual students Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense O Net operating income $ 0 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.) Courses Students Revenue $ Expenses: Instructor wages 11 ,040 Classroom supplies 17,210 Utilities 1,930 Campus rent Insurance Administrative expenses Total expense Net operating income