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 61 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 $ 2,948 Classroom supplies $ 270 Utilities $1,210 $ Campus rent 54,800 Insurance $ 2,000 Administrative expenses $3,600 $ 70 For example, administrative expenses should be $3,600 per month plus $45 per course plus $4 per student. The company's sales should average $890 per student The company planned to run four courses with a total of 61 students, however, it actually ran four courses with a total of only 51 students. The actual operating results for September appear below: Revenue Instructor wages Classroon supplies utilities Campus rent Insurance Administrative expenses Actual $ 51,390 $ 11,040 $ 16,320 $1,900 $4,800 $ 2,140 $3,450 Check my work 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 unfovorable, and "None" for no effect (i.e., zero variance). Input all amounts os positive volues.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Results Budget Planning Budget Courses 4 Students 51 $ 51,390 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11,040 16 320 1,900 4,800 2,140 3,450 39,650 11,740 $