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Top managers of Preston Industries predicted 2016 sales of 15,000 units of its product at a unit price of Sg 50. Actual sales for the year were 14,600 units at $12.00 each Vanable costs were budgeted at S? 10 per unit; and actual variable costs were S2.20 per unit. Actual fixed costs of $48;000 exceeded budgeted fixed costs by $5,300 Prepare Preston'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 SO variances, leave the Favorable (F)/Unfavorable (U) input blank.) Preston Industries Flexible Budget Performance Report For the Year Ended December 31, 2016 Budget Amounts Per unit Actual Results 2 Flexible Budget Variance 3 Flexible Budget 4 Sales Volume Variance 5 Static Budget Units Sales Revenue Variable Costs Contribution Margin