The Gourmand Cooking School runs short cooking courses at its small campus. Management hos 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 65 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Fixed Cost per cost per cost per Month Course Student $ 2,930 $ 310 $ 1,200 $ 75 $ 4,80 $ 2.200 $ 3,800 $40 For exemple, administrative expenses should be $3,800 per month plus $40 per course plus 54 per student. The company's sales should average $900 per student. The company planned to run four courses with a total of 65 students; however, it actually ren four courses with a total of only 63 students. The actual operating results for September were as follows: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $ 55,620 $ 11,e2e $ 20,00 $ 1.910 $ 4.800 $ 2.340 $ 3,646 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 (L.e., zero varlance). 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 Courses 4 63 S 55,800 Students Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent 11,000 20,000 1,910 4,800 2,340 3,646 43,696 Insurance Administrative expenses Total expense Net operating income S 11,904