Top managers of Canyon Ltd. predicted the following year's sales of 148,000 units of its product at a unit price of $9.80. Actual sales for the year were 140,000 units at $11.40 each. Variable expenses were budgeted at $2.30 per unit, and actual variable expenses were $3.05 per unit. Actual fixed expenses of $440,000 exceeded budgeted fixed expenses by $40,000. Prepare Canyon Ltd.'s income statement performance report. What variance contributed most to the year's favourable results? What caused this v