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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 reportsthe 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 companys cost formulas appear below: Fixed Cost per Month Cost per Course Cost per Student Instructor wages $ 2,910 Classroom supplies $ 280 Utilities $ 1,220 $ 80 Campus rent $ 4,700 Insurance $ 2,100 Administrative expenses $ 3,800 $ 40 $ 6 For example, administrative expenses should be $3,800 per month plus $40 per course plus $6 per student. The companys sales should average $870 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 55 students. The actual operating results for September were as follows: Actual Revenue $ 50,170 Instructor wages $ 10,920 Classroom supplies $ 16,930 Utilities $ 1,950 Campus rent $ 4,700 Insurance $ 2,240 Administrative expenses $ 3,752 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.)

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