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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below Fixed cost cast per per Month CS $ 23920 cast per Student 59 Instructor wages Classroom Supplies Utilities Campus rent Insurance Administrative expenses 5 155 1220 34.800 $ 2,100 54,000 43 $ For example, administrative expenses should be $4.000 per month plus $43 per course plus $6 per student. The company's sales should average $860 per student The company planned to run fout courses with a total of 62 students, however, it actually ran four courses with a total of only 58 students. The actual operating results for September appear below. Revenue Tnstructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses Actual 3 50,420 10,960 19,850 1,890 54,800 $2,24 5,970 Required: Prepare a flexible budget performance report that shows both ends Pending Mariances and activity anences for September (Indicate the effect of each vorionce by selecting for favorable. "U" for unfavorable, and "None" for no effect (ie.. zero variance). Input all amounts as 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 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 Flexible Actual Results Budget Planning Budget 4 Courses Students 58 Revenue $ 50 420 10,960 17 830 Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 1,890 4.800 2 240 3.970 41 690 8 730 $