The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses for budgeting purposes-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 Fixed Cost per Month Cost per Cost per Course Student $ 2,960 $ 260 $ 65 Utilities $ 1,220 Campus rent $ 4,700 Insurance $ 2,300 Administrative expenses $ 3,600 $ 45 $6 For example, administrative expenses should be $3,600 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 63 students; however, it actually ran four courses with a total of only 59 students. The actual operating results for September were as follows: Actual $ 51,910 Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance $ 11,120 $ 16,230 $ 1,890 $ 4,700 $ 2,440 Administrative expenses $ 3,584 Required: Prepare a flexible budget performance report for September. Note: 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. Courses Students Revenue Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expenses Net operating income Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Results Budget Planning Budget 4 59 $ 51,910 11,120 16,230 1,890 4,700 2,440 3,584 39,964 $ 11,946