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 per Cost per Cont per Month Course Student Instructor vages classroom supPplies Utilities $2,980 $300 $1,210 $4,800 $2,400 $3,700 50 Campus rent Insurance Administrative expenses 43 4 For example, administrative expenses should be $3,700 per month plus $43 per course plus $4 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 57 students. The actual operating results for September appear below Actual $52,000 $ 11,200 $ 18,150 $ 1,820 $ 4,800 S 2,540 S 3,542 Revenue Instructor wages classroom supPplies 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. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e.., zero 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 (ie., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Planning Budget Actual Results Budget Courses 4 Students 57 Revenue 52,000 Expenses: Instructor wages 11,200 18,150 Classroom supplies Utilities 1,820 Campus rent 4,800 Insurance 2,540 Administrative expenses 3,542 Total expense 42,052 $ 9,948 Net operating income