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 63 students enrolled in those two courses. Data concerning the company's cost formulas appear below:

3 01.06:24

Fixed

Cost per

Month

Cost per Cost per

Course

Student

$ 2,930

270

$ 55

Instructor wages

Classroom supplies

Utilities

Campus rent

Insurance

Administrative expenses

$ 1,210

$ 5,000

$ 2,300

$ 3,900

$ 41

$ 3

For example, administrative expenses should be $3,900 per month plus $41 per course plus $3 per student. The company's sales should average $870 per student.

The company planned to run four courses with a total of 63 students; however, it actually ran four courses with a total of only 55 students. The actual operating results for September were as follows:

Actual

$ 51,910

$ 11,000

$ 16,860

$ 1,840

$ 5,000

$ 2,440

$ 3,679

Revenue

Instructor wages

Classroom supplies

Utilities

Campus rent

Insurance

Administrative expenses

Required:

Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September.

Note: 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.