The following is a partially completed performance report for Water Land. (Click the icon to view the information.) Read the requirements. 1. How many pools did Water Land originally think they would install in April? 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 8. Fill in the missing numbers in the performance report. Be sure to indicate whether variances are favorable (F) or unfavorable (U). (Enter "0". A variance of zero is considered favorable.) Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Output units (pools installed) Sales revenue Operating expenses: Variable expenses Fixed expenses Total operating expenses