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 $ 2,950 Classroom supplies $ 200 Utilities $1,200 $ 50 Campus rent $5,000 Insurance $2,100 Administrative expenses $ 3,800 $ 43 $ 6 For example, administrative expenses should be $3,800 per month plus $43 per course plus $6 per student. The company's sales should average $900 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 Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 52,000 $ 11,000 516,930 51,810 $5,000 $2,240 $ 3,764 Prepare a flexible budget performance report that shows both revenue and spending vanances 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.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget 4 Courses Students 51 $ 52,000 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11.080 16,930 1,810 5,000 2240 3.764 40,824 11,176 $