Should the dance owner feel frustrated with the variance report? Why?Prepare a flexible budget performance report for Shakes It Dance School.

Shakes It Dance School Variance Report For the Month Ended July 31 Actual Planning Results Budget Variances Lessons 220 215 Revenue $59,130 $58,050 $ 1,080 F Expenses: Teacher wages 17,385 17,200 185 U Building depreciation 7,260 7,095 165 U Stagecraft expenses 4,550 3,870 680 U Advertising 4,080 3,895 185 U Facility expenses 2,895 2,910 15 F Administration 4,025 4,185 160 F Total expense 40,195 39,155 1,040 U Net operating income $18,935 $18,895 $ 40 F After several months of using such variance reports, the owner has become frustrated. For example, she is quite confident that teacher wages were very tightly controlled in July, but the report shows an unfavorable variance. The planning budget was developed using the following formulas, where q is the number of lessons sold: Cost Formulas Revenue $270q Teacher wages $80g Building depreciation $33q Stagecraft expenses $18q Advertising $670 + $15q Facility expenses $2,050 + $4q Administration $3,540 + $3q A. Should the dance school owner feel frustrated with the variance report? Why? B. Prepare a flexible budget performance report for Shakes It Dance School. C. Bonus: How would you evaluate the school's performance