The following data pertain to the Waikiki Sands Hotel for the month of March. Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead Flexible Budget March (in thousands) * $ 745 1,990 (123) (785) (182) (113) (128) Actual Results March (in thousands) * $ 772 1,965 (124) (804) (179) (116) (150) *Numbers without parentheses denote profit; numbers with parentheses denote expenses. Required: Based on Exhibit 12-4, prepare a March performance report and use the same data for year-to-date columns in your report. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Select "None" and enter "O" for no effect (i.e., zero variance). Enter your answers in thousands.) WAIKIKI SANDS HOTEL Performance Reports for March (In Thousands) Flexible Budget Actual Results March Year to Date March Year to Date Variance March Year to Date Food and Beverage Department Banquets & Catering Restaurants $ 745 $ $ 772 $ 2,037 $ 27 F F 2,005 5,740 3,499 1,990 (1,331) 1,404 Kitchen 1,965 (1,373) 1,364 5,705 3,546 (25) U 42 U (40) U Total profit $ $ $ U Kitchen Kitchen staff wages $ 123 $ 124 $ 1 U u U Food 785 804 19 U 182 179 (3) F. F Paper products Variable overhead Fixed overhead 113 116 30 u 128 150 22 U U Total expense $ (1,331) $ (1,373) $ 42U U Flexible Budget" Actual Results Variancet Alola February Year to Date February Year to Date February Year to Date HOTELS & RES Company $ 30,660 $ 64,567 $ 30,716 $64,570 $56 F $ 3F Maui Division $ 18,400 $ 38,620 $ 18,470 $38,630 $70F $10 F Oahu Division 12,260 25,947 12,246 25,940 140 7U Total profit $ 30,660 $ 64,567 $ 30,716 $64,570 $56 F $ 3F Oahu Division Waimea Beach Resort $ 6,050 $ 12,700 $ 6,060 $12,740 $10 F $40 F Diamond Head Lodge 2,100 4,500 2,050 4,430 50 U 70U Waikiki Sands Hotel 4,110 8,747 4,136 8,770 26 F 23 F Total profit $ 12,260 $ 25,947 $ 12,246 $25,940 $14U $ 7U Waikiki Sands Hotel Grounds and Maintenance $ (45) $ (90) $ (44) $ (90) $ 1F Housekeeping and Custodial (40) (90) (41) (90) 1 U Recreational Services 40 85 41 88 1 F $ 3F Hospitality 2,800 6,000 2,840 6,030 40 F 30 F Food and Beverage 1,355 2,842 1,340 2,832 15 U 10U Total profit $ 4,110 $ 8,747 $ 4,136 $ 8,770 $26 F $23 F Food and Beverage Department Banquets and Catering $ 600 $ 1,260 $ 605 $ 1,265 $ 5F $ 5F Restaurants 1,785 1,760 3,740 25 U 10U Kitchen (1.030) (2,168) (1,025 (2,173) 5 F 5U Total profit $ 1,355 $ 2,842 $ 1,340 $ 2,832 $15 U $10U Kitchen Kitchen staff wages $ (80) $ (168) $ (78) $ (169) $ 2F $ 10 Food (675) (1,420) (678) (1,421) 3U 1 U Paper products (120) (250) (115) (248) 5 F 2 F Variable overhead (70) (71) (154) 1U 4U Fixed overhead (85) (180) (83) (181) 27 1U .......... $ 1.030 $ (2,168) $ (1,025) $(2,173) $ 5F $ 50 *Numbers without parentheses denote profit; numbers with parentheses denote expenses; numbers in thousands. F denotes favorable variance; U denotes unfavorable variance. 3,750 (150) Total expense