The answer needs to include the following information and look like this:

Top managers of Smith Industries predicted 2018 sales of 15,100 units of its product at a unit price of $7.50. Actual sales for the year were 14,900 units at $10.50 each. Variable costs were budgeted at $2.20 per unit, and actual variable costs were $2.30 per unit. Actual fixed costs of $42,000 exceeded budgeted fixed costs by $5,200. Prepare Smith'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.) Units Sales Revenue Variable Costs Contribution Margin Budget Amounts Per Unit Smith Industries Flexible Budget Performance Report For the Year Ended December 31, 2018 1 3 Actual Results 2 (1)-(3) Flexible Budget Variance Flexible Budget 4 (3) - (5) Sales Volume Variance Static Budget Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income GA 6.50 $ 2.10 $ 123,250 31,900 91,350 45,000 46,350 $ $29,000 F 1,450 U 27,550 F 3,000 24,550 F Flexible Budget Variance $ 24,550 F $ 94,250 $ 30,450 63,800 42,000 21,800 $ 2,600 U 840 Static Budget Variance $ 22,790 F F 1,760 U 0 1,760 U Sales Volume Variance 1,760 U $ $ 96,850 31,290 65,560 42,000 23,560 What variance contributed most to the year's favorable results? What caused this variance? Notice that the budget reflects both favorable and unfavorable flexible budget variances and sales volume variances. Consider the impact of each variance on the company's profits and what circumstances result in that type of variance