The following is a partially completed performance report for Water Land. (Click the icon to view the information.) Read the requirements. by differences between actual and expected volume 8. Fill in the missing numbers in the performance report. Be sure to indicate whether variances are favorable (F) or unfavorable (U). (Enter X is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Requirements Water Land Flexible Budget Performance Report: Sales and Operating Expenses 1. How many pools did Water Land originally think it would install in April? 2. How many pools did Water Land actually install in April? For the Year Ended April 30 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? Flexible Budget Flexible 6. Define the flexible budget variance. What causes it? 7. Define the volume variance. What causes it? Actual Variance Budget Volume Variance Master Budget 8. Fill in the missing numbers in the performance report. Output units (pools installed) 5 Sales revenue $ 100,000 $ 105,000 S 84,000 Print Done Operating expenses. Variable expenses 62,000 65,000 52,000 Fixed expenses 25,000 29,300 29,300 Total operating expenses Submit teData table A I B ' C D E F 1 Water Land 2 Flexible Budget Performance Report: Sales and Operating Expenses 3 For the Year Ended April 30 Flexible Budget Flexible Volume Master 4 Actual Variance Budget Variance Budget 5 Sales volume [number of pools installed} 5 '? 5 Sales revenue $ 100,000 $ 105:000 ? Operating expenses: 8 Variable expenses 5 62,000 S 65300 9 Fixed expenses 10 Total operating expenses