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: Fixed Cost per Month Cost per Course $ 2,920 Cost per Student $300 Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses $ 60 $ $ $ $ 1,240 5,100 2,200 3,800 $ 41 For example, administrative expenses should be $3,800 per month plus $41 per course plus $5 per student. The company's sales should average $860 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 57 students. The actual operating results for September appear below: Revenue Instructor wages Classroon supplies Utilities Campus rent Insurance Administrative expenses Actual $49,560 $ 10,960 $ 18,150 $ 1,090 $ 5,100 $ 2,140 Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September HI ...I wannella Gourmand Cooking School Flexible Budget Performance Report For the Month Ended September 30 Actual Results Flexible Budget Planning Budget 4 Courses Students 57 $ 49,560 Revenue Expenses Instructor wages Classroom supplies Utilities Campus rent Insurance Administrative expenses Total expense Net operating income 10,960 18.150 1.890 5,100 2,340 3,695 42,135 7,425 $