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: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost Cost per cost per per Month Course Student $ 2,930 $3ee $1,230 $ 6e $ 4,500 $ 2,100 $ 3,900 $ 46 For example, administrative expenses should be $3,900 per month plus 544 per course plus $5 per student. The company's sales should average $880 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 57 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 52,540 $ 11,000 $ 18,750 $ 1,880 $ 4,800 $ 2, 240 $ 3,817 Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget 4 Courses Students 57 S 52,540 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11,000 18,750 1,880 4,800 2.240 3,817 42.487 10.053 $