Top managers of Fretan Ltd. predicted the following year's sales of 149,500 units of its product at a unit price of $8. Actual sales for the year were 141,000 units at $11.60 each. Variable expenses were budgeted at $2.50 per unit, and actual variable expenses were $3.15 per unit. Actual fixed expenses of $425,000 exceeded budgeted fixed expenses by $30,000. Prepare Fretan Ltd.'s income statement performance report. What variance contributed most to the year's favourable results? What caused this variance?

Top managers of Fretan Ltd. predicted the following year's sales of 149,500 units of its product at a unit price of $8. Actual sales for the year were 141,000 units at $11.60 each. Variable expenses were budgeted at $2.50 per unit, and actual variable expenses were $3.15 per unit. Actual fixed expenses of $425,000 exceeded budgeted fixed expenses by $30,000. Prepare Fretan Ltd.'s income statement performance report. What variance contributed most to the year's favourable results? What caused this variance? rrepare rretan Lta. 's income statement perormance report. (ror accounts with a zero paiance, make sure to enter " u ' in the appropriate column. Ladel eacn varance as tavourabie (r) or unfavourable (U). If the variance is zero, do not select a label.) What variance contributed most to the year's favourable results? What caused this variance? The variance contributing most to the year's excellent results is the variance for . This variance resulted from the company's product at -than-expected prices