Top managers of Cole Industries predicted 2018 sales of 14.900 units of its product at a unit price of $7.50. Actual sales for the year were 14.400 units at $11.50 each Variable costs were budgeted at $2.40 per unit, and actual variable costs were $2.50 per unit. Actual fixed costs of $42.000 exceeded budgeted fixed costs by $5,200 Prepare Cole's flexible budget performance report Whal 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.) Cole Industries Flexible Budget Performance Report For the Year Ended December 31, 2018 (3) (5 Budget Amounts Per Unit Flexible Budget Actual Results Flexible Budget Volume Variance Static Budget Units Sales Revenue Choose from any list or enter any number in the input fields and then continue to the next question Top managers of Cole Industries predicted 2018 sales of 14,900 units of its product at a unit price of $7.50. Actual sales for the year were 14.400 units at $11.50 each. Variablec variable costs were $2.50 per unit. Actual fixed costs of $42,000 exceeded budgeted fixed costs by $5,200. Prepare Cole's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance? Amounts Flexible Actual Results Budget Variance Volume Variance Static Budget Per Unit Budget Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Choose from any list or enter any number in the input fields and then continue to the next question The variance contributing most to the year's excellent results is the favorable This variance resulted from selling the company's product at Choose from any list or enter any number in the input fields and then continue to the next question @ 12:58