possibl Phi Alpha Theta, the history honorary fraternity, held a homecoming party. The fraternity expected attendance of 60 persons and prepared the following budget: (Click the icon to view the budget data.) After Phi Alpha Theta paid all the bills for the party, the total cost came to $1,915, or $305 over budget. Details are $140 for room rental; $895 for food; $570 for entertainment; and $310 for decorations. Eighty-two persons attended the party. Requirements 1. Prepare a performance report for the party that shows how actual costs differed from the budget. That is, include in your report the budgeted amounts, actual amounts, and variances. 2. Suppose the fraternity uses a management-by-exception rule. Which costs deserve further examination? Why? Requirement 1. Prepare a performance report for the party that shows how actual costs differed from the budget. That is, include in your report the budgeted amounts, actual amounts, and variances. Begin by reporting the budgeted and actual costs of the party, then complete the report by calculating the variance amounts. Label each variance as favorable (F) or unfavorable (U). (Enter a "0" for any zero-balances. If the variance is zero, do not select a label.) Budget Actual Variance Choose from any list or enter any number in the input fields and then continue to the next question ? Save for Later story honorary fraternity, held a homecoming party. The fraterr 7s and prepared the following budget: ai - X 5, or $ Data Table m b for tel i Room rental ang ou nit $ 140 Food red fro ariance Heserve 650 ? Entertainment 570 Decorations 250 are Slud Total $ 1,610 al costs , and va bu - La waria report by Enter a Print Done Budget Actuar vanianice or enter any number in the input fields and then continue to the ere to search