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 $ 2,940 Classroom supplies $ 270 Utilities $1,240 90 Campus rent $ 4,500 Insurance $ 2,300 Administrative expenses $ 3,900 $4 $ $ 42 For example, administrative expenses should be $3.900 per month plus $42 per course plus $4 per student. The company's sales should average $880 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 57 students. The actual operating results for September were as follows: Revenue Instructor wages Classroon supplies Utilities Campus rent Actual $ 50,78e $ 11,040 $ 16,320 52,01e $4,500 Check my work Insurance Administrative expenses $ 2,440 $ 3,738 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.) ook Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Results Budget Planning Budget 4 Coursos Students 57 $ 50,780 Revenue Expenses Instructor wages Classroom supplies Utilities 11,040 16,320 2010 For the Month Ended September 30 Actual Results Flexible Budget Planning Budget Courses Students 4 57 $ 50,780 11,040 Revenue Expenses Instructor wagos Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 16,320 2,010 4,500 2,440 3.738 40,048 10.732 $