Question 2 Waterway Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 980 kits was prepared for the year. Fixed operating expenses account for 39% of total operating expenses at this level of sales. Sales Cost of goods sold (all variable) Gross margin Operating expenses Operating income $49,000 29,400 19,600 17,150 $ 2,450 Assume that Waterway Sports actually sold 1,029 volleyball kits during the year at a price of $44 per kit. Calculate the sales volume variance for sales revenue and cost of goods sold. (If variance is zero, select "Not Applicable" and enter o for the amounts.) Flexible Budget Sales Volume Variance Static Budget Unit Sales Sales revenue Cost of goods sold Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO VIDEO VIDEO: SIMILAR EXERCISE