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3. Letter Print Top managers of Juda Industries predicted 2024 sales of 15,100 units of its product at a unit price of $7.00. Actual sales for the year were 14, .50 eac unl sa Variable costs were budgeted at $2.10 per unit, and actual variable costs were $2.20 per unit. Actual fixed costs of $41 ,000 exceeded budgeted fixed costs by $2,500. Prepare Juda's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance? Prepare a flexible budget performance report for the year. First, complete the flexible budget performance report through the contribution margin line, then complete the report through the operating income line. Finally, compute the total variances. (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank.) Juda Industries Flexible Budget Performance Report For the Year Ended December 31, 2024 Budget Amounts Per Unit Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income 1 Actual Results 2 Flexible Budget Variance (1 (3 (5 (7 (9 3 Flexible Budget 4 Sales Volume Variance (2 (4 (6 (8 (1 (1 (15) (16) What variance contributed most to the years favorable results? What caused this variance? The variance contributing most to the year's excellent results is the favorable (17) 5 Static Budget (1 This variance resulted from selling the company's product at (10) O (18) (11) O O Flexible Budget Variance O Sales Volume Variance O Static Budget Variance (12) O O Flexible Budget Variance O Sales Volume Variance O Static Budget Variance (13) (14) O (15) O O Flexible Budget Variance O Sales Volume Variance O Static Budget Variance (16) O (17) O (18) flexible budget variance for operating income flexible budget variance for sales revenue sales volume variance for operating income sales volume variance for sales revenue O O a higher-than-expected price a lower-than-expected price the normal price