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: Cost per per Month Course $ 2,920 Cost per Student Fixed Cost Instructor wages Classroom supplies Utilities Campus rent $300 $ 1,210 $ 70 $ 4,600 $ 2,000 $ 3,600 43 5 Administrative e ses For example, administrative expenses should be $3,600 per month plus $43 per course plus $5 per student. The company's sales should average $880 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: Revenue Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Actual 50,780 $ 10,960 $18,150 $ 1,900 $ 4,600 $ 2,140 $ 3,503 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 (i.e., zero variance). Input all amounts as positive values.)