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:

Fixed Cost per Month Cost per Course Cost per

Student

Instructor wages $ $2,920$

Classroom supplies $ $270$

Utilities $ $1,240$ $ $90$

Campus rent $ $4,800$

Insurance $ $2,200$

Administrative expenses $ $3,600$ $ $41$ $ $4$

For example, administrative expenses should be $$3,600$ per month plus $$41$ per course plus $$4$ per student. The company$$s sales should average $$860$ 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:

Actual

Revenue $ $52,140$

Instructor wages $ $10,960$

Classroom supplies $ $17,130$

Utilities $ $2,010$

Campus rent $ $4,800$

Insurance $ $2,340$

Administrative expenses $ $3,446$

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.$)$