The following is a partially completed performance report from Surf Side Pools, one of Kool Jet's competitors. E (Click the icon to view the incomplete performance report.) Complete the perfomance report by filling in all missing values. Be sure to label each variance as favourable (F) or unfavourable (U). Then, answer the following questions: 1. What was the total static budget variance? 2. What was the total sales volume variance? 3. What was the total flexible budget variance? 4. Show that the total sales volume variance and total flexible budget variance sum to the total static budget variance. 5. Interpret the variances and then give one plausible explanation for the variances shown in this performance report. Complete the perfomance report by filling in all missing values. Be sure to label each variance as favourable (F) or unfavourable (U). (Enter your answers as positive values. For a variance with a zero balance, make sure to enter "o" in the appropriate column. Label each variance as favourable (F) or unfavourable (U) unless the variance is zero, then do not select a label.) Data table Surf Side Pools Income Statement Performance Report Year Ended April 30 Flexible Budget for Actual Results at Flexible Budget Actual Number of Actual Prices Variance Output Units 6 Sales Volume Static (Master) Budget Variance 5 Output units (pools installed) ) Sales revenue Income Statement Performance Report Year Ended April 30 Flexible Budget for Actual Results Flexible Actual Number Budget of Actual Prices Variance Output Units S S 120,000 $ 126,000 S S 105,000 Sales Volume Variance Static (Master) Variable expenses Budget 58,000 22,000 61,000 26,000 50.835 26.000 Fixed expenses Output units (pools installed) 6 ? ? ? 5 Total expenses 80,000 87.000 76,835 $ 120.000 ? $ 125,000 ? S S 105,000 $ $ 40,000 39,000 S 28,165 Sales revenue Variable expenses Operating income 58.000 22,000 80,000 ? ? ? 61,000 28,000 ? ? ? Fixed expenses 50,835 26,000 76,835 28.165 Total expenses 7 87,000 7 $ 40,000 ? $ 39,000 ? s Operating income Help me solve this Calculator Ask my instructor Print Done