Requirements The following is a partially completed performance report for Surf Land Click the icon to view the information.) - X Data Table Read the requirements F 1. How many pools did Surf Land originally think they would install in April? 1. How many pools did Surf Land originally think it would install in April? 2. How many pools did Surf Land actually install in April? 3. How many pools is the flexible budget based on? Why? 4. What was the budgeted sales price per pool? 5. What was the budgeted variable cost per pool? 6. Define the flexible budget variance. What causes it? 7. Define the volume variance. What causes it? 8. Fill in the missing numbers in the performance report The that Surf Land planned to sell pools in April. 2. How many pools did Surf Land actually install in April? The that Surf Land installed pools in April Master Budget Print Done 3. How many pools is the flexible budget based on? Why? A B D E 1 Surf Land 2 Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Budget Flexible Volume 4 Actual Variance Budget Variance 5 Sales volume (number of pools installed) 6 ? ? $ 6 Sales revenue 115,000 ? $ 120,000 ? 7 Operating expenses: 8 Variable expenses $ 56,000 ? $ 60,000 2 9 Fixed expenses 25,000 ? ? 29.100 2 2 ? 2 10 Total operating expenses 5 $ 100.000 output for the month. This is done so The flexible budget for performance reports is always based on the that managers can compare meaning they can compare $ 50.000 to 29.100 2 Therefore, Surf Land's flexible budget is based on pools 4. What was the budgeted sales price per pool? (Round your answer to the nearest whole dollar.) Print Done 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 V are based on V 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 between & Fill in the missing numbers in the nerformance renort Recure to indicate whether variances are favorable (F) or unfavorable (Il/Fnter the variances as nositive numbers lahel each variance as favorable (Flor unfavorable / If the variance is make sure to enter in a "O" A variance of rern is considered favorable) Choose from any list or enter any number in the input fields and then continue to the next question. ? 8. 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 Land Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Budget Flexible Budget Actual Variance Volume Variance Master Budget 5 Output units (pools installed) 6 $ 115,000 $ 120,000 $ 100,000 Sales revenue Operating expenses: Variable expenses Fixed expenses 60,000 50,000 56,000 25,000 29,100 29,100 Total operating expenses
