How well did the company control its costs during the year? Explain and identify those areas with favorable variances and those with unfavorable variances.

The Little Theatre Flexible Budget Performance Report For The Year Ended December 31 Spending Flexible budget Actual Activity Planning budget results variances variances Number of productions Number of performances 168 168 108 U $403,200 ($259,200/108*168) $453,700 $50,500 $144,000 U $259,200 Actors and directors wages U 75,600 1,900 Stagehands wages 115,700 117,600 42,000 (75,600/108*168) U 92,400 U 59,400 Ticket booth 95,900 3,500 33,000 personnel (59,400/108*168) and ushers wages 132,600 U| 128,800 (110,400/6*7) 18,400 U| 110,400 Scenery, 3,800 costumes and props U 97,200 F 151,200 (97,200/108*168) Theatre hall 140,000 11,200 54,000 rent U 70,200 F 109,200 (70,200/108*168) Printed 100,300 8,900 39,000 programs F 16,800 (14,400/6*7) U| 14,400 Publicity 19,100 4,700 2,400 Administrative 107,500 U 86,400 U| 93,360 6,960 14,140 expenses U $772,800 U $1,112,560 Total $1,164,800 $54,640 $339,760