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 reportsthe 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 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost per Cost per cost per Month Course Student $ 2,930 $300 $1,250 $ 50 $5,000 $2,200 $4,000 $ 43 $ 7 For example, administrative expenses should be $4,000 per month plus $43 per course plus $7 per student. The company's sales should average $880 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $53,420 $11,000 $ 19,050 $ 1,860 $ 5,000 $ 2,340 $ 4,046 Required: 1. Prepare the company's planning budget for September 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September