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The Little Theatee is a nonpront organization devoted to staging phays for children. The theater has a very small full-time professional administrative staff, Through a special acrangement with the actors' union, actors and directors rehearse. without pay and are paid only for actual performances. The Littie Theotre had tentatively planned to put on six different productions with a total of 108 performances. For example, one of the productions was Peter Rabbic, which had a six-week run with three performances on each weekend. The costs from the current year's planning budget appear below. Some of the costs vary with the number of productions, some with the number of performances, and same are fixed and depend on neither the number of productions nor the number of performonces. The costs of scenery, costumes, props, and publicity vary with the number of productions. It doesn' make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Lkewise, the cost of publicizing a ploy with posters and radio commercials is the same whether there are 10,20 , or 30 performances of the play. On the other hand, the wages of the actors, directors. stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs will be. Similarly. the costs of renting the hall and piliting the programs will vary with the number of performances. Administrative expenses are more dilficult to analyze, but the best estimate is that approximately 75% of the budgeted costs are fred, 15% depend on the number of productions staged, and the remaining 10% depend on the number of performances. Atter the beginning of the yeat, the board of directors of the theater authorized expanding the theoter's program to seven productions and o total of 168 performances. Not surprisingly, actual costs were considerably higher than the costs from the planning budget. (Gramts from donots and ticket sales were aiso correspondingly tigher, but are not shown here) Dato concerning the actual costs were as follows: Required: 1. Prepare a flexible budget performance report for the year that shows both spending variances and activity variances, (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.) Required: 1. Prepare a flexible budget performance report for the year that shows both spending variances and activity variances. (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.)