1. How many pools did Surf Side originally think they would install in April? The 2. How many pools did Surf Side actually install in April? The | (2) | ]pools in April. 3. How many pools is the fiexible budget based on? Why? The flexible budget for performance reports is always based on the that managers can compare (4) that Surf Side planned to sel pools in April that Surf Side installed output for the month. This is done so meaning they can compare to Therefore, Surf Side's flexible budget is based on 4. What was the budgeted sales price per pool? (Round your answer to the nearest whole dollar.) The budgeted sales price is S 5. What was the budgeted variable cost per pool? (Round your nswer to the nearest whole dollar.) The budgeted variable cost is$ 6. Define the flexible budget variance. What causes it? As the name suggests, the flexible budget variance is the difference between the (7) pools. per pool. per pool. and the (8) Since the (9) and the (10) are based on of output, this variance highlights unexpected revenues and expenses that are caused by factors other than (12) 7. Define the volume variance. What causes it? The volume variance is the difference between the (13) caused by differences between (16) 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 and the (14) The only difference between these two budgets is the (15) Therefore, the volume variance is 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 (18) (17) Output units (pools installed) (19) (20) S 104,000 S 108,000 86,400 Sales revenue Operating expenses (21) (23) (25) (22) Variable expenses 55,000 60,000 48,000 (24) 23,000 26,700 26,700 Fixed expenses Tolal operating expenses 1: Data Table Surf Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Flexible Budget Actual Varlance Budget Volume Varlance Master Budget Sales volume (number of pools installed) S 104,000 108,000 86,400 Sales revenue Operating expenses: $55,000 Variable expenses 60,000 48,000 23,000 26,700 26,700 Fixed cxpenses Tatal operating expenses 1. How many pools did Surf Side originally think it 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? 4. What was the budgeted sales price per pool? 5. What was the budgeted variable cost per pool? 6. Define the flexible budget varianoe. What causes it? 7. Define the volume variance. What causes it? 8. Fill in the missing numbers in the performance report (2) O (3) O (4) O (5) O O actual O budgeted O production O actual results indicate O flexible budget indicates O master budget indicates O acutal results indicate O flexible budget indicates O master budget indicates O actual revenues and expenses O historical revenues and expenses O historical data to current data O industry ratios to their company ratios (7) O flexible budget O master budget (8) O actual results revenues and expenses they would expect to achieve given the same volume O budgeted revenues and expenses O revenues and expenses of competitors O revenues and expenses they would expect to achleve given different volume O master budget (9) O actual results (10) flexible budget O master budget (11) O different volumes O the same volume (12) O costs (13) flexible budget variance (14) O actual results (15) O sales price per unit O master budget O price O volume O master budget O flexible budget O total flxed costs O variable costs per unit O volume of units on which they are based (18) O(19) (16) O actual and expected fixed costs 17)O (20) (21) O (22) O (23) O (24) O (25) (26) O O actual and expected sales prices actual and expected volume 1. How many pools did Surf Side originally think they would install in April? The 2. How many pools did Surf Side actually install in April? The | (2) | ]pools in April. 3. How many pools is the fiexible budget based on? Why? The flexible budget for performance reports is always based on the that managers can compare (4) that Surf Side planned to sel pools in April that Surf Side installed output for the month. This is done so meaning they can compare to Therefore, Surf Side's flexible budget is based on 4. What was the budgeted sales price per pool? (Round your answer to the nearest whole dollar.) The budgeted sales price is S 5. What was the budgeted variable cost per pool? (Round your nswer to the nearest whole dollar.) The budgeted variable cost is$ 6. Define the flexible budget variance. What causes it? As the name suggests, the flexible budget variance is the difference between the (7) pools. per pool. per pool. and the (8) Since the (9) and the (10) are based on of output, this variance highlights unexpected revenues and expenses that are caused by factors other than (12) 7. Define the volume variance. What causes it? The volume variance is the difference between the (13) caused by differences between (16) 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 and the (14) The only difference between these two budgets is the (15) Therefore, the volume variance is 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 (18) (17) Output units (pools installed) (19) (20) S 104,000 S 108,000 86,400 Sales revenue Operating expenses (21) (23) (25) (22) Variable expenses 55,000 60,000 48,000 (24) 23,000 26,700 26,700 Fixed expenses Tolal operating expenses 1: Data Table Surf Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Flexible Flexible Budget Actual Varlance Budget Volume Varlance Master Budget Sales volume (number of pools installed) S 104,000 108,000 86,400 Sales revenue Operating expenses: $55,000 Variable expenses 60,000 48,000 23,000 26,700 26,700 Fixed cxpenses Tatal operating expenses 1. How many pools did Surf Side originally think it 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? 4. What was the budgeted sales price per pool? 5. What was the budgeted variable cost per pool? 6. Define the flexible budget varianoe. What causes it? 7. Define the volume variance. What causes it? 8. Fill in the missing numbers in the performance report (2) O (3) O (4) O (5) O O actual O budgeted O production O actual results indicate O flexible budget indicates O master budget indicates O acutal results indicate O flexible budget indicates O master budget indicates O actual revenues and expenses O historical revenues and expenses O historical data to current data O industry ratios to their company ratios (7) O flexible budget O master budget (8) O actual results revenues and expenses they would expect to achieve given the same volume O budgeted revenues and expenses O revenues and expenses of competitors O revenues and expenses they would expect to achleve given different volume O master budget (9) O actual results (10) flexible budget O master budget (11) O different volumes O the same volume (12) O costs (13) flexible budget variance (14) O actual results (15) O sales price per unit O master budget O price O volume O master budget O flexible budget O total flxed costs O variable costs per unit O volume of units on which they are based (18) O(19) (16) O actual and expected fixed costs 17)O (20) (21) O (22) O (23) O (24) O (25) (26) O O actual and expected sales prices actual and expected volume