The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers that 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 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost Cost per Cost per per Month Course Student Instructor wages Classroom supplies Utilities Campus rent $2,940 $280 $1,220 70 $4,700 $2,100 3,700 41 $ Administrative expenses For example, administrative expenses should be S3,700 per month plus $41 per course plus $6 per student. The company's sales should average $870 per student. The actual operating results for September appear below: Actual $52,780 $11,040 $17,770 $ 1,910 $ 4,700 $ 2,240 3,674 Revenue Instructor wages Classroom supplies Utilities Campus rent Administrative expenses Required 1. The Gourmand Cooking School expects to run four courses with a total of 64 students in September Complete the company's planning budget for this level of activity. Gourmand Cooking School Planning Budget For the Month Ended September 30 $55,680 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent 11,760 17,920 1,500 4,700 2,240 4,222 42,342 13,338 Total expense $ Net operating income 2. The school actually ran four courses with a total of 58 students in September. Complete the company's flexible budget for this level of activity Gourmand Cooking School Flexible Budget For the Month Ended September 30 Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Total expense Net operating income 3. Calculate the revenue and spending 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 Revenue and nding Variances Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Total expense Net operating income