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The following is a partially completed performance report for Surf's Up. (Click the icon to view the information.) Read the requirements. 1. How many pools did Surfs Up originally think they would install in April? The that Surf's Up planned to sell pools in April. 2. How many pools did Surfs Up actually install in April? The that Surf's Up installed pools in April. 3. How many pools is the flexible budget based on? Why? The flexible budget for performance reports is always based on output for the month. This is done the SO that managers can meaning they can compare compare to Therefore, Surfs Up's flexible budget is based on pools.4. What was the budgeted sales price per pool? (Round your answer to the nearest whole dollar.) The budgeted sales price is per pool. 5. What was the budgeted variable cost per pool? (Round your answer to the nearest whole dollar.) The budgeted variable cost is per pool. 6. Define the flexible budget variance. What causes it? As the name suggests, the flexible budget variance is the difference between the and the Since the and the are based on of output, this variance highlights unexpected revenues and expenses that are caused by factors other than 7. Define the volume variance. What causes it? The volume variance is the difference between the and the The only difference between these two budgets is the Therefore, the volume variance is caused by differences between8. Fill in the missing numbers in the performance report. Be sure to indicate whether variances are favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Surf's Up Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30Flexible Budget Flexible Volume Actual Variance Budget Variance Master Budget Output units (pools installed) Sales revenue $ 104,000 112,000 89,600 Operating expenses: Variable expenses 58,000 63,000 50,400 Fixed expenses 25,000 28,600 28,600 Total operating expensesV. VIIIAL WAS LIG WUVYOIGU VONIQUIG USINGI JUVI! YOUIIN YOUI GIISWGI W LIG IGAIGSL WIIVIG WVIII. J The budgeted variable cost is per pool. 6. Define the flexible budget variance. What causes it? As the name suggests, the flexible budget variance is the difference between the and the Since the and the are based output, this variance highlights unexpected revenues and expenses that are caused by fa 7. Define the volume variance. What causes it? flexible budget The volume variance is the difference between the and master budget only difference between these two budgets is the eunion aIn AlolaIAIII variance is caused by differences betweenThe budgeted variable cost is 6. Define the flexible budget variance. What ( sales price per unit As the name suggests, the flexible budget va and the Since the total fixed costs of output, this variance highlights unexpected revenues variable costs per unit 7. Define the volume variance. What causes volume of units on which they are based The volume variance is the difference betwee The only difference between these two budgets is the Therefore, the volume variance is caused by differences between