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: Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost Cost per cost per per Month Course Student $ 3,880 $250 5 870 $ 130 $4,200 $ 1,899 $ 3,270 $ 15 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: Revenue Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Actual $ 32,400 $ 9,00 5 $ 1,530 54,200 $1,800 5 3.790 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 for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts os positive values.) Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le.. zero variance). Input all amounts os positive values.) Answer is not complete. Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Revenue and Actual Flexible Results Spending Variances Activity Variances Budget 3 3 42 42 Planning Budget 3 Courses Students 46 Revenue IS 32.400 0 S 32.400 XU 32.400 0 F None F None Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 0.080 8.540 1,830 4.200 1.800 3.790 20.030 U None None BOOOOOO None None OOOOOO U F F IS 2.270 F