FLEXIBLE BUDGET PERFORMANCE REPORT Top managers of Hannah Industries predicted 2018 sales of 14,400 units of its product at a unit price of $9.00. Actual sales for the year were 14,000 units at $11.50 each. Variable costs were budgeted at $2.10 per unit, and actual variable costs were $2.20 per unit. Actual fixed costs of $42,000 exceeded budgeted foed costs by $5,500. Prepare Hannah's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance? Hannah Industries Flexible Budget Performance Report For the Year Ended July 31, 2018 Flexible Budget Amounts per Unit Actual Results Flexible Budget Sales Volume Variance Static Budget Variance Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income