The following is a partially completed performance report for Surf World. F! (Click the icon to view the information.) Read the requirements. 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 World Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Budget Variance Flexible Budget Actual Master Budget Volume Variance Output units (pools installed) $ 97,500 117,000 110,000 Sales revenue Operating expenses: Variable expenses Fixed expenses 62,000 22,000 66,000 26,100 55,000 26,100 Total operating expenses the performance report. Be sure to indicate whether variances are favorable (F) or unfavorable (U). (Enter the var fay Tro is considere i Requirements 1. How many pools did Surf World originally think it would install in April? 2. How many pools did Surf World 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. Print Done OZ, OUT 09 100,000 26.100 0,000 26.100 Surf World Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Budget Flexible Budget Master Budget Actual Variance Sales volume (number of pools installed) 97,500 117.000 110,000 Sales revenue Operating expenses: Variable expenses 55,000 26,100 $ 66,000 26,100 62,000 22,000 Fixed expenses Total operating expenses