Problem 3 (15 points) Below you will see an incomplete performance evaluation report. Indicate whether each spending and activity variance is favorable (or unfavorable (U). Activity Variances Planning Budget 108 The Little Carnegie Hall in Fort Smith Flexible Budget Performance Report For the Year Ended December 31 Actual Spending Flexible Results Variances Budget Number of performances... 168 168 Wages. $341,800 $5,800 $336,000 Scenery, costumes, and props....... 4,600 126,000 78,000 6,000 84,000 Printed programs.... 38,300 3,700 42,000 Publicity... 15,100 1,100 14,000 Administrative expenses.............. 47.500 820 46.680 $651,300 $2.620 $648,680 $120,000 18,000 30,000 15,000 2,000 3.480 $188.480 $216,000 108,000 54,000 27,000 12,000 43,200 $460.200