Flexible Budgets and Performance Analysis EXERCISE 9-18 Working with More Than One Cost Driver LO9-4, LO9-5) The Gourmand Cooking School runs short cooking courses at its small campus. Management has identi- fied two cost drivers that 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 50 students enrolled in those two courses. Data concerming the company's cost formulas appear below: Fixed Cost Cost per Cost per per Month Course Student $3,080 Instructor wages $260 Classroom supplies $870 $130 Utilities $4,200 Campus rent $1,890 Insurance $15 $3,270 Administrative expenses For example, administrative expenses should be S3,270 per month plus $15 per course plus s4 per student. The company's sales should average S800 per student The actual operating results for September appear Actual $32,400 Revenue Instructor wages $9,080 Classroom supplies $8,540 Utilities $1,530 Campus rent $4,200 $1,890 Insurance $3,790 Administrative expenses