2 Exercise 9-18 Working with More Than One Cost Driver [LO9-2, LO9-3, LO9-4, LO9-5] 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: 10 points Fixed Cost Cost per Cost per per Month Course Student eBook Instructor wages Classroom supplies $ 2,928 $ 280 Utilities 1,238 $85 Print $4,7e0 2,400 $ 3,800 42 $ 5 Campus rent Insurance Administrative expenses References For example, administrative expenses should be $3,800 per month plus $42 per course plus $5 per student. The company's sales should average $870 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 51 students. The actual operating results for September appear below Actual s5e,17e s1e,968 16,93e Revenue Instructor wages Classroom supplies 1,988 4,7e8 Utilities Campus rent Insurance s 2,548 $ 3,699 Administrative expenses Required Prepare a flexible budget performance report that shows both revenue and spending varlances and activity varlances for September. 2 Administrative expenses 3,699 Requlrec Prepare a flexible budget performance report that shows both revenue and spending varlances and activity variances for September (indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable" and "None" for no effect (l.., zero varlance). Input all amounts as positlve values.) 10 points Gourmand Cooking School Flexible Budget Performance Report eBook For the Month Ended September 30 Planning Budget Flexible Actual Results Budget Print Courses Students 51 References Revenue 50,170 Expenses: Instructor wages 10,960 Classroom supplies 16,930 Utilities 1,980 4,700 Campus rent 2,540 Insurance Administrative expenses 3,699 Total expense 40,809 9,361 Net operating income