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 62 students enrolled in those two courses. Data concerning the companys cost formulas appear below:

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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost Cost per per Month Course Cost per Student $ 2,960 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $ 290 $1, 200 $ 60 $ 4, 600 $ 2, 100 $3, 500$40 $4 For example, administrative expenses should be $3,500 per month plus $40 per course plus $4 per student. The company's sales should average $890 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 54 students. The actual operating results for September appear below: Revenlie Instructor wages Classroom supplies Utilities Campus rent Insur ance Administrative expenses Actual $52, 280 $11, 120 $17, 830 $ 1,850 $ 4, 600 $ 2, 240 $3, 334 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 variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Budget Planning Budget Actual Results Courses 4 Students 54 Revenue 52,280 Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses 11.120 17,830 1,850 4,600 2,240 3,334 40,974 11.306 Total expense Net operating income