The following is a partially completed performance report for Surf Side. (Click the icon to view the information.) Read the requirements. Requirements 1. How many pools did Surf Side originally think it would install in April? 1. How many pools did Surf Side originally think they would install in April? 2. How many pools did Surf Side actually install in April? 3. How many pools is the flexible budget based on? Why? The that Surf Side planned to sell pools in April. 4. What was the budgeted sales price per pool? 5. What was the budgeted variable cost per pool? 2. How many pools did Surf Side actually install in April? 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 Side 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 the output for the month. This is done so Print Done that managers can compare meaning they can compare to Therefore, Surf Side'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?The following is a partially completed performance report for Surf Side. E (Click the icon to view the information.) Read the requirements As the name suggests, the exible budget variance is the difference between the highlights unexpected revenues and expenses that are caused by factors other than IE 7. Dene the volume variance. What causes it'! The volume variance is the difference between the is caused by differences between V. . Since the and the j are based on t of output, this variance and the V . The only difference between these two budgets is the j and the . Therefore. the volume variance 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.) ll' Surf Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Budget Flexible Actual Variance Budget Volume Variance Master Budget Output units (pools installed) 5 4 Sales revenue as 110,000 $ 116,000 $ 92,800 Operating expenses: The following is a partially completed performance report for Surf Side. (Click the icon to view the information.) Read the requirements. 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 s caused by differences between 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 Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Budget Flexible Actual Variance Budget Volume Variance Master Budget Output units (pools installed) 5 Sales revenue $ 110,000 $ 116,000 $ 92,800 Operating expenses: Variable expenses 55,000 60,000 48,000 Fixed expenses 22,000 26,300 26,300 Total operating expensesa l Surf Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Budget Flexible Volume Actual Variance Budget Variance Sales volume (number of pools installed) Sales revenue $ 110.000 . 116,000 Operating expenses: Variable expenses Fixed expenses Total operating expenses per pool