Data table The following is a partially completed performance report for Surf Time. (Click the icon to view the information.) Read the requirements. 1. How many pools did Surf Time originally think they would install in April? The that Surf Time planned to sell pools in April. 2. How many pools did Surf Time actually install in April? The that Surf Time 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 that managers can compare , meaning they can compare to revenues and expenses they would expect to achieve given the same volume Therefore, Surf Time'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? As the name suggests, the flexible budget variance is the difference between the and the . Since the and the are based on 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 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 Time 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 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 are based on of output, this variance highlights unexpected revenues and e y factors other than 7. Define the volume variance. What causes it? The volume variance is the difference between the . Therefore, the volume variance is cau master budget As the name suggests, the flexible budget variance is the difference between the and the Since the and the are based on of output, this variance highlights unexpected revenues and expenses that are caused t 7. Define the volume variance. What causes it? The volume variance is the difference between the and the . The hese two budgets is the . Therefore, the volume variance is caused by differences betwe master budget 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 are based on 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 betw costs yets 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 (I 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 Time 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 are based on of output, this variance highlights unexpected revenues and expenses that are caused by factors other than 3. What causes it? fference between the and the The only difference between these two budgets is the Therefore, the volume variance is caused by differences between 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 iavulavie (, , U umavuravle (U). If the variance is 0 , make sure to enter in a "0". A variance of zero is considered favorable.) As the name suggests, the flexible budget variance is the difference between the and the . Since the and the are based on 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 . Therefo y differences between 8. Fill in the missing numbers in the performance re riances are favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance i: flexible budget variance ariance of zero is considered favorable.) 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 I 8. Fill in the missing numbers in the performance report. Be sure to indicate whether v )r unfavorable (U). (Enter the variances as positive nu as favorable (F) or unfavorable (U). If the variance is 0 , make sure to enter in a "0". A ed favorable.) Surf Time Flexible Budget Performance Report: Sales and Oper 1. Define the volume variance. VVhat 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 ort. Be sure to indicate whether variances are favorable (F) or unfavorable (U). (Enter the variances as pos 0, make sure to enter in a "0". A variance of zero is considered favorable.) Surf Time rmance Report: Sales and Operating Expenses or the Year Ended April 30 le Budget Flexible irianra Ridnat Vnlima Varianco 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 as favorable (F) or unfavorable (U). If the variance is 0 , make sure to enter in a " 0 ". A variance of zero is consic Surf Time actual and expected sales prices Flexible Budget Performance Report: Sales and Operating Expenses actual and expected fixed costs For the Year Ended April 30 actual and expected volume Flexible Budget Flexible