Exercise 9-12 Working with More Than One Cost Driver [LO9-1, LO9-2, LO9-3] 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 65 students enrolled in those two courses. Data concerning the company's cost formulas appear below Fixed Cost Cost per per Month Cost per Student Course Instructor wages $2,970 Classroom supplies Utilities $270 $1,25e $5,10e 2,30e $3,600 $ 80 Campus rent Insurance Administrative expenses 44 For example, administrative expenses should be $3,600 per month plus $44 per course plus $3 per student. The company's sales should average $880 per student. The company planned to run four courses with a total of 65 students; however, it actually ran four students. The actual operating results for September appear below: with a total of only 61 Actual Revenue Instructor wages Classroom supplies Utilities $ 54,30e $ 11,160 $ 17,400 1,980 $ 5,100 $ 2,440 $ 3,397 Campus rent Insurance Administrative expenses Required: 1. Prepare the company's planning budget for September 2. Prepare the company's flexible budget for September. 3. Calculate the revenue and spending variances for September