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 64 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per Cost per Month Cost per Student S 2.940 Instructor wages Classroom supplies Utilities $280 $1,240 $5,100 $2,300 $3,700 55 Campus rent Insurance Administrative expenses $ 6 45 For example, administrative expenses should be $3,700 per month plus $45 per course plus $6 per student. The company's sales should average $870 per student. The company planned to run four courses with a total of 64 students; however, it actually ran four courses with a total of only 56 students. The actual operating results for September appear below: Actual 52,780 $11,040 $17,. $ 1,870 5,100 Revenue Instructor wages Utiliti supplies Campus rent es Administrative expenses $ 3,690 Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Planning Budget Flexible Actual Results Budget Courses 4 4 4 Students 56 56 64 52,780 Revenue Expenses: Instructor wages 11,040 Classroom supplies 17,770 Utilities 1,870 Campus rent 5,100 Insurance 2,440 Administrative expenses 3,690 Total expense 41,910 Net operating income 10,870