The Little Theatre is a nonprofit organlzation devoted to staging plays for children. The theater has a very small full-time professional administrative staff. Through a speclal arrangement with the actors' union, actors and directors rehearse without pay and are pald only for actual performances. The Little Theatre had tentatlvely planned to put on slx dlfferent productlons with a total of 108 performances. For example, one of the productions was Peter Rabblt, which had a slx-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 nelther 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 publiclzing a play with 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 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 productlons staged, and the remalning 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 tlcket sales were also correspondingly higher, but are not shown here.) Data concerning the actual costs were as follows: Required: 1. Prepare a flexlble budget performance report for the year that shows both spending varlances and activity varlances. (Indlcate 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 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.)