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 63 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per Cost per Month Course $ 2,900 Cost per Student $ 280 $ 80 Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses $1,210 $4,500 $2,000 $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 $890 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 53 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 53,170 $ 10,880 $ 17,490 $ 1,940 $ 4,500 $ 2,140 $ 3,776 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the company's planning budget for September. Gourmand Cooking School Planning Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Required 1 Required 2 Required 3 Prepare the company's flexible budget for September. Gourmand Cooking School Flexible Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Results Variances Flexible Budget Courses 4 Students 53 Revenue 53,170 Expenses: Instructor wages 10,880 Classroom supplies 17,490 Utilities 1,940 Campus rent 4,500 Insurance 2,140 Administrative expenses 3,776 Total expense 40,726 Net operating income $ 12,444