Chapter 9 Homework Saved Help Save 3 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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below 10 points 8 02:0024 Instructor wages Classroon supplies utilities Campus rent Insurance Asinistrative expenses Fixed Cost Cost per cost per RC Month Course Student $ 2,940 $300 $1,230 5 75 54,700 $2,100 $3,500 5 eBook Print References For example, administrative expenses should be $3,500 per month plus 544 per course plus $4 per student. The company's sales should average 5880 per student The company planned to run four courses with a total of 62 students, however, it actually ran four courses with a total of only 58 students. The actual operating results for September appear below Insurance Administrative expenses 52,100 $ 3,500 $ 44 $ 4 nts For example, administrative expenses should be $3,500 per month plus 544 per course plus $4 per student. The company's sales should average $880 per student. The company planned to run four courses with a total of 62 students, however, it actually ran four courses with a total of only 58 students. The actual operating results for September appear below 02:08.50 eBook Actual $ 51,660 $ 11,040 $ 18,450 $ 1,940 $ 4,700 $ 2,240 $3,350 Revenue Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Print References 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 os positive values.) Gourmand Cooking School Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Flexible Actual Results Budget Planning Budget Courses 4 Students 58 51,660 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 11,040 18.450 1,940 4,700 2,240 3,350 41,720 9,940 $