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 company's cost formulas appear below: Fixed Cost per cost per Month Course $ 2,960 Cost per Student $290 $ 50 Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses $1,210 $ 4,900 $2,000 $3,800 $ 41 $ 5 For example, administrative expenses should be $3,800 per month plus $41 per course plus $5 per student. The company's sales should average $860 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 58 students. The actual operating results for September appear below: Revenue Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 50, 420 $ 11, 120 $ 17,830 $ 1,820 $ 4,900 $ 2,140 $ 3,700 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 Calculate the revenue and spending variances for September. (Indicate the effect of each varia favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts Gourmand Cooking School Revenue and Spending Variances For the Month Ended September 30 Actual Revenue and Spending Results Variances Flexible Budget Courses 4 Students 58 $ 50,420 Revenue Expenses: Instructor wages 11,120 Classroom supplies 17,830 Utilities 1,820 Campus rent 4,900 Insurance 2,140 Administrative expenses 3,700 Total expense 41,510 Net operating income $ 8,910 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 0 Total expense Net operating income $ 0 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 0 $ 0