The Gourmand Cooking School runs short cooking courses at its small campus Management has identified two cost drivers it use its budgeting and performance reports the number of courses and the total number of students. For example, the school might two courses in a month and have a total of 65 students enrolled in those two courses Deta concerning the company's cost formu appear below Instructores Classroom supplies utilities Caspus rent Insurance Administrative expenses Fixed cost cost per cost per Der Month Course Student 52,950 5280 51,230 $ 65 34. $2,00 $1,600 41 34 For example, administrative expenses should be $3.600 per month plus 541 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 65 students, however, it actually ran four courses with a total of only 61 students. The actual operating results for September appear below Revenue Instructor was Cassroon Neplies Utilities Campus rent Insurance Administrative expenses Actual 353,000 $ 11, 518,050 $ 1.900 $4,600 $ 2,440 53,450 Required: Prepare a flexible budget performance report that shows both revenue and spending vanances and activity variances for September (Indicate the effect of cach variance by selecting "F" for favorable, U" for unfavorable, and "None" for no effect (Le.zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget 4 Courses Students 01 $ 53.000 Revenue Expenses Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses 11.080 18.050 1.000 4,600 2.440 3,450 Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget 4 Courses Students 81 53,000 11,080 18.050 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 1.000 4,600 2,440 3,450 41.520 $ 11.480