The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers that 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: Fixed Cost Cost per Cost per per Month Course Student 2,970 Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative 300 $ 1,230 4,700 2,300 $ 3,800 $ 50 $ 41 $6 expenses For example, administrative expenses should be $3,800 per month plus $41 per course plus $6 per student. The company's sales should average $880 per student. The actual operating results for September appear below: For example, administrative expenses should be $3,800 per month plus $41 per course plus $6 per student. The company's sales should average $880 per student. The actual operating results for September appear below Actua 50,780 Revenue $11,160 18,150 Instructor wages Classroom supplies $ Utilities Campus rent Insurance $1,840 $4,700 $2,440 Administrative expenses $3,756 Required: 1. The Gourmand Cooking School expects to run four courses with a total of 61 students in September. Complete the company's planning budget for this level of activity. Required: 1. The Gourmand Cooking School expects to run four courses with a total of 61 students in September. Complete the company's planning budget for this level of activity. 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 2. The school actually ran four courses with a total of 53 students in September. Complete the company's flexible budget for this level of activity. Gourmand Cooking School Flexible Budget For the Month Ended September 30 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent nsurance Administrative expenses Total expense 0 Net operating income 0 3. Complete the 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 (i.e., zero variance). Input all amounts as positive values.) Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Revenue and Spending Variances Activity Variances Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income