Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 The activity variances in column I are influenced by two cost drivers-number of productions and number of performances. Therefore: a. In cell 121 create a formula that quantifies the portion of the overall activity variance that is caused solely by the fact that The Munchkin Theatre actually put on four productions instead of the planned number of five productions. What is the amount in cell 121? b. In cell 122 create a formula that quantifies the por of the overall activity variance that is caused solely by the fact that The Munchkin Theatre actually put on 64 performances instead of the planned number of 60 performances. What is the amount in cell 122? c. Create IF-THEN statements in cells 221 and 222 that properly label your variances in cells 121 and 122 as favorable (F) or unfavorable (U). Show less 7-a. The portion of the overall activity variance due to productions The portion of the overall activity variance due to performances 7-b. The Munchkin Theater Flexible Budget Performance Report For the Year Ended December 31 Spending Variances Flexible Budget Activity Variances Planning Budget Actual Results 4 64 4 5 Number of productions (92) Number of performances (92) 64 60 Cost Formulas Per Per Production Performance $ 2,400 $ 450 $ 180 $ 8,600 $ 750 $ 175 $ 2,600 $ 1,296 $ 72 $ $ 12,496 $ 4,027 $ $ Actors' and directors' wages Stagehands' wages Ticket booth personnel and ushers' wages Scenery, costumes, and props Theater hall rent Printed programs Publicity Administrative expenses Total Fixed $ $ $ $ $ $ $ 32,400 $ . 159,200 $ 5,600 F $ 153,600 $ 28,600 $ (200) F $ 28,800 $ 12,300 $ 780 F $ 11,520 $ 39,300 $ 4,900 U$ 34,400 $ 49,600 $ 1,600 F $ 48,000 $ 10,950 $ (250) F $ 11,200 $ 12,000 $ 1,600 U $ 10,400 $ 41,650 $ (542) U $ 42,192 $ 353,600 $ 13,488F $ 340,112 $ 9,600 F $ 144,000 1,800 F $ 27,000 720 F $ 10,800 (8,600) U $ 43,000 3,000 F $ 45,000 700 F $ 10,500 (2,600) U $ 13,000 (1,008) U $ 43,200 3,612 F $ 336,500 32,400 $ $ Activity Variances: By Cost Driver Portion due to number of productions Portion due to number of performances Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 The activity variances in column I are influenced by two cost drivers-number of productions and number of performances. Therefore: a. In cell 121 create a formula that quantifies the portion of the overall activity variance that is caused solely by the fact that The Munchkin Theatre actually put on four productions instead of the planned number of five productions. What is the amount in cell 121? b. In cell 122 create a formula that quantifies the por of the overall activity variance that is caused solely by the fact that The Munchkin Theatre actually put on 64 performances instead of the planned number of 60 performances. What is the amount in cell 122? c. Create IF-THEN statements in cells 221 and 222 that properly label your variances in cells 121 and 122 as favorable (F) or unfavorable (U). Show less 7-a. The portion of the overall activity variance due to productions The portion of the overall activity variance due to performances 7-b. The Munchkin Theater Flexible Budget Performance Report For the Year Ended December 31 Spending Variances Flexible Budget Activity Variances Planning Budget Actual Results 4 64 4 5 Number of productions (92) Number of performances (92) 64 60 Cost Formulas Per Per Production Performance $ 2,400 $ 450 $ 180 $ 8,600 $ 750 $ 175 $ 2,600 $ 1,296 $ 72 $ $ 12,496 $ 4,027 $ $ Actors' and directors' wages Stagehands' wages Ticket booth personnel and ushers' wages Scenery, costumes, and props Theater hall rent Printed programs Publicity Administrative expenses Total Fixed $ $ $ $ $ $ $ 32,400 $ . 159,200 $ 5,600 F $ 153,600 $ 28,600 $ (200) F $ 28,800 $ 12,300 $ 780 F $ 11,520 $ 39,300 $ 4,900 U$ 34,400 $ 49,600 $ 1,600 F $ 48,000 $ 10,950 $ (250) F $ 11,200 $ 12,000 $ 1,600 U $ 10,400 $ 41,650 $ (542) U $ 42,192 $ 353,600 $ 13,488F $ 340,112 $ 9,600 F $ 144,000 1,800 F $ 27,000 720 F $ 10,800 (8,600) U $ 43,000 3,000 F $ 45,000 700 F $ 10,500 (2,600) U $ 13,000 (1,008) U $ 43,200 3,612 F $ 336,500 32,400 $ $ Activity Variances: By Cost Driver Portion due to number of productions Portion due to number of performances