Top managers of Banyon Ltd. predicted the following year's sales of 147,000 units of its product at a unit price of $8. Actual sales for the year were 141,000 units at $11.00 each. Variable expenses were budgeted at $2.20 per unit, and actual variable expenses were $2.70 per unit. Actual fixed expenses of $460,000 exceeded budgeted fixed expenses by $30,000. Prepare Banyon Ltd.'s income statement performance report. What variance contributed most to the year's favourable results? What caused this variance? Prepare Banyon Ltd.'s income statement performance report. (For accounts with a zero balance, make sure to enter "0" in the appropriate column. Label each variance as favourable (F) or unfavourable (U). If the variance is zero, do not select a label.) Banyon Ltd. Income Statement Performance Report For the Year Flexible Budget for Actual Results at Flexible Budget Actual Number of Actual Prices Variance Output Units Sales Volume Variance Static (Master) Budget Output units Sales revenue Variable expenses Fixed expenses Total expenses Operating income