Extracted text: Required: Prepare a flexible budget performance report that shows both revenue and spending variances and activity varlances 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.) Gourmand Cooking School Flexible Budget Performance Report es For the Month Ended September 30 Flexible Planning Budget Actual Results Budget Courses 3. Students 42 Revenue $4 32,400 Expenses: Instructor wages 9,080 8,540 Classroom supplies Utilitios 1,530 Campus rent 4,200 Insurance 1,890 Administrative expenses 3,790 Total expense 29,030 Net operating income 3,370
Extracted text: 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 50 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost per Cost per Cost per Course Student k Month Instructor wages Classroon aupplies Utilitien Campus rent Insurance Administrative expenses $3,080 ces $260 ৪70 5 130 $ 4, 200 $1,890 $ 3,270 15 $ 4 For example, administrative expenses should be $3,270 per month plus $15 per course plus $4 per student. The company's sales should average $800 per student. The company planned to run three courses with a total of 45 students; however, it actually ran three courses with a total of only 42 students. The actual operating results for September appear below: Actual $32, 400 $ 9,080 $8,540 $ 1,530 $ 4,200 $ 1,890 $3,790 Revenue Instructor wages classroom supplies Utilities Campus rent Insurance Administrative expenses