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: Instructor vagen Classroom supplies Utilities Campus rent Insurance Administrative expenses Fixed Cont per cont per cont per Month Course Student $2,970 5310 $1,250 5 60 $4,700 $2,100 $3,900 For example, administrative expenses should be $3,900 per month plus $45 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 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 $ 49,560 $ 11,160 $ 18,760 $ 1,900 54,700 $2,240 $ 3,811 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 (1.o., zero variance). 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 4 Courses Students 57 Ravenue $ 49,560 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 $ 49,560 $ 11, 160 $ 18, 760 $ 1,900 $ 4,700 $ 2,240 $ 3,811 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 (.e., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Results Budget Planning Budget 4 Courses Students 57 Revenue $ 49,560 Expenses: Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11.160 18,760 1,900 4,700 2,240 3,811 42,571 6,989 $