The Little Theatre is a nonprofit organization devoted to staging plays for children. The theater has a very small full-time professional administrative staff. Through a special arrangement with the actors' union, actors and directors rehearse without pay and are paid only for actual performances. The Little Theatre had tentatively planned to put on six different productions with a total of 108 performances. For example, one of the productions was Peter Rabbit, which had a six-week run with three performances on each weekend. The costs from the current year's planning budget appear below. Some of the costs vary with the number of productions, some with the number of performances, and some are faxed and depend on nerther the number of productions nor the number of performances. The costs of scenery, costumes, props, and publicity vary with the number of productons. It doesn't make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Likewise, the cost of publicizing a play wth posters and radio commercials is the same whether there are 10,20 , or 30 performances of the play. On the other hand, the wages of the actors, directors, stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs wil be. Similarly, the costs of renting the hall and printing the programs will vary with the number of performances. Adminstrative expenses are more difficult to analyze, but the best estimate is that approximately 75% of the budgeted costs we foxed, 15\% depend on the number of productions staged, and the remaining 10% depend on the number of performances. After the beginning of the yeor, the board of directors of the theater authorized expanding the theater's program to seven productions and a total of 168 performances. Not surprisingly, actual costs were consiferably higher than the costs fiom the planning budget (Grants from donors and ticket sales were aiso cortespondingly higher, but are not shown here) Data conceming the actual costs appear below. Some of the costs vary with the number of productions, some with the number of performances, and sorne are foved and depend on netther the number of productions nor the number of perlormances. The costs of scenery, costurnes, props, and publicity vary with the number of productions. It doesn't make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Likemse, the cost of publicizng a play wth posters and radio commerclals is the same whether there are 10,20, or 30 performances of the play. On the other hand, the wages of the actors, directors, stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs will be. Similarly, the costs of renting the hall and priming the programs will vary with the number of performances. Admintstratve expenses are more difficult to analyze, but the best estimate is that approximately 75% of the budgeted costs are fiked, 15% depend on the number of productions staged, and the remaining 10% depend on the number of performances After the beginning of the year, the board of directors of the theater authorized expanding the theater's program to seven productions and a total of 168 performances. Not surpisingly, octual costs were considerably higher than the costs from the planning budget. (Grants from donors and vcket sales were asso correspondingly higher, but are not shown here) Dara concerning the actual costs appear below: Required: 1. Prepare a flexble budget performance report fon the year thot shows both spenging yartances and activity variances. (Indicate the effect of esch varlence by selecting "F" for fovoreble, "U" for unfovoroble, and "None" for no effect (Le., zero varlance), Input all emounts es poslelve volues.j Required: 1. Prepare a flexible budget performance report for the year that shows both spending varlances and activity varlances. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as bosltive values.I The Little Theatre is a nonprofit organization devoted to staging plays for children. The theater has a very small full-time professional administrative staff. Through a special arrangement with the actors' union, actors and directors rehearse without pay and are paid only for actual performances. The Litle Theatre had tentatively planned to put on six different productions with a total of 108 performances. For example, one of the productions was Peter Rabbit, which had a six-week run with three performances on each weekend. The costs from the current year's planning budget appear below. Some of the costs vary with the number of productions, some with the number of performances, and some are fixed and depend on neither the number of productions nor the number of performances. The costs of scenery, costumes, props, and publicity vary with the number of productions. It doesn't make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Likewise, the cost of publicizing a play with posters and radio commercials is the same whether there are 10,20, or 30 performances of the play. On the other hand, the wages of the actors, directors, stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs will be. Similarly, the costs of renting the hall and printing the programs will vary with the number of performances. Administrative expenses are more difficult to analyze, but the best estimate is that approximately 75% of the budgeted costs are fixed, 15% depend on the number of productions staged, and the remaining 10% depend on the number of performances. After the beginning of the year, the board of directors of the theater authorized expanding the theater's program to seven productions and a total of 168 performances. Not surprisingly, actual costs were considerably higher than the costs from the planning budget. (Grants from donors and ticket sales were also correspondingly higher, but are not shown here.) Data concerning the actual costs appear below: Required: 1. Prepare a flexible budget performance report for the year that shows both spending variances and activity variances, (Indicete the effect of eoch variance by selecting "F" for fovoroble, "U" for unfavorable, and "None" for no effect fi.e., zero variance). Input afl omounts as positive values.) Required: 1. Prepare a flexible budget performance report for the year that shows both spending variances and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)