costs of $50,000 exceeded budgeted fixed costs by $5,000. 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 costs of $50,000 exceeded budgeted fixed costs by $5,000. 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