The Smart Flashlight Company projected yearly sales of 12,000 plus units at $15.00 per unit. Actual sales for the year were 15,000 units at $16.00 per unit. Variable expenses, budgeted at $10.00 per unit, actually amounted to $15.00 per unit. Fixed expenses, budgeted at $50,000, actually totalled $48,000.

Required: Prepare the Smart Flashlight Company's contribution margin income statement performance report for the year ended December 31, including both flexible budget variances and sales volume variances, using the template included in the Excel spreadsheet provided.