PLEASE PLEASE HELP COMPLETE THIS ASAP VERY IMPORTANT

Data table Swim-Time Pools Income Statement Performance Report Month Ended June 30 (1) (2) (3) (4) (5) (1)-(3) Flexible (3)-(5) Actual Budget Results Flexible for Actual Sales Static at Actual Budget Number of Volume Prices Variance Output Units* Variance (Master) Budget* 8 10 -0- 10 2 F Output units (pools installed) Sales revenue $121,000 $1,000 F $24,000 F Variable expenses 83,000 22,000 3,000 U 2,000 U $120,000 80,000 20,000 16,000 U -0- $96,000 64,000 20,000 Fixed expenses Total expenses 105,000 5,000 U 100,000 16,000 U 84,000 $ 16,000 $4,000 U $ 20,000 $ 8,000 F $12,000 Operating income Flexible budget variance, $4,000 U Sales volume variance, $8,000 F Swim-Time installed ten pools during May. Prepare an income statement performance report Swim-Time for May, using the table below as a guide. (Click the icon to view the table.) Assume that the actual sales price per pool is $13,800, actual variable expenses total $63,000, and actual fixed expenses are 519,600 in May. The master budget was prepared with the following assumptions: variable cost of $8,100 per pool, fixed expenses of $20,300 per month, and anticipated sales volume of nine pools at $13,800 per pool. Requirement 1. Compute the sales volume variance and flexible budget variance. Use these variances to explain to Swim-Time's management why May's operating income differs from operating income shown in the static budget. Requirement 1. Compute the sales volume variance and flexible budget variance. Use these variances to explain to Swim-Time's management why May's operating income differs from operating income shown in the static budget. Prepare an income statement report for Swim-Time for May (For accounts with a zero balance, make sure to enter "O" in the appropriate column. Label each variance as favourable (F) or unfavourable (U). If the variance is zero, do not select a label.) Swim-Time Pools Income Statement Performance Report Month Ended May 31 Flexible Budget for Actual Results at Flexible Budget Actual Number of Actual Prices Variance Output Units Sales Volume Static (Master) Budget Variance Output units Sales revenue Variable expenses Fixed expenses Total expenses Operating income Use the sales volume variance and flexible budget variance lo explain Swim-Time's management why May's operating income differs from operating income shown in the static budget