S10-12 Interpret a performance report (Learning Objective 5) The following is a partially completed performance report for Sunshine Pools 1 Sunshine Pools 2 Flexible Budget Performance Report: Sales and Operating Expenses 3 For the Year Ended April 30 4 Flexible Budget Flexible 5 Volume Variance Master Budge Actual Variance Budget 6 Sales volume (number of pools installed) 5 ? 7 8 Sales revenue $ 102,000 ? 108,000 ? $ 9 Operating expenses: 10 Variable expenses $ 50,000 ? $ ? 52,000 $ 11 Fixed expenses 24.000 ? $ 28.100 ? 12 Total operating expenses $ ? ? $ 13 $ 8640 41 28.700 2 1. How many pools did Sunshine Pools originally think it would install in April? 2. How many pools did Sunshine Pools 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