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 62 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per Cost per Month Course Cost per Student Instructor wages Classroom supplies $2,920 $270 Utilities $1,200 $ 65 $5,200 Insurance $2,100 $3,800 $ 41 $ 6 Campus rent Administrative 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 $870 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 52 students. The actual operating results for September appear below: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual $51,040 $10,960 $16,590 $ 1,870 $ 5,200 $ 2,240 $ 3,762