costs of $$47,000$ exceeded budgeted fixed costs by $$2,000.$

Prepare Smith's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance? balances. For any $$0$ variances, leave the Favorable $($F$)/$Unfavorable $($U$)$ input blank.$)$

What variance contributed most to the year's favorable results? What caused this variance?

The variance contributing most to the year's excellent results is the favorable

This variance resulted from selling the company's product at