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 61 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Cost per Student Fixed Cost Cost per per Month Course $ 2,920 $1,220 $ 75 55,100 $2,400 $3,500 5 44 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses $ 270 For example, administrative expenses should be $3,500 per month plus $44 per course plus $5 per student. The company's sales should average $880 per student The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 57 students. The actual operating results for September appear below. Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 50,780 $ 10,960 $ 16, 320 $ 1,930 $ 5,180 $ 2,540 $ 3,407 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September Indicate the effect of each varlance by selecting "f" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero varlance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September (Indicate the effect of each varlance by selecting "p" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts os positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Results Budget Planning Budget Courses Students 4 57 5 50,700 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 10,000 10.320 1,930 5,100 2,540 3.407 40.267 10,523 $