e) Pay back a 320,000 4. (10 pts) The Magnum Company held a Christmas party. The company expected attendance of 150 people and prepared the following budget: Hotel room rental Food Entertainment Decorations Total Costs One hundred and sixty people attended the party. The following costs were incurred: Hotel room rental Food Entertainment Decorations Total Costs A) What is the variance for total costs and it's favorable or unfavorable? B) What is the primary reason for the variance in total costs? $600 S500 $900 $350 $2,350 $775 $640 $1,050 350 $2,815