EX $12-30($Algo$)$ Performance Report; Hotel $($LO $12-3)$The following data pertain to the Waikiki Sands Hotel for the month of March.Flexible Budget March $($in Actual Results MarchBanquets and CateringRestaurantsKitchen staff wagesFoodPaper productsVariable overheadFixed overheadthousands$)($in thousands$)$$ $715$$ $7361,9381,911(111)(112)(755)(768)(164)(161)(101)(104)(116)(132)"$Numbers without parentheses denote profit; numbers with parentheses denote expenses.Required:Based on Exhibit $12-4,$ prepare a March performance report. For the year$-$to$-$date columns in your report, use the data given in Exhibit $12-4$ You will need to update those figures using the March data given above.Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, $"$U$"$ for unfavorable. Select "None" and enter $"$O$"$ for no effect $($le$.,$ zero variance$).$ Enter your answers in thousands