Top managers of Industries predicted sales of units of its product at a unit price of . Actual sales for the year were units at each. Variable costs were budgeted at per unit, and actual variable costs were per unit. Actual fixed costs of exceeded budgeted fixed costs by . Prepare 's flexible budget performance report. What 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.)

For the Year Ended December 31, 2018 1 2 3 4 5 (1)-(3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Per Unit Results Variance Budget Variance Budget Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income What variance contributed most to the year's favorable results? What caused this variance? The variance contributing most to the year's excellent results is the favorable . This variance resulted from selling the company's product at For the Year Ended December 31, 2018 1 2 3 4 5 (1)-(3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Per Unit Results Variance Budget Variance Budget Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income What variance contributed most to the year's favorable results? What caused this variance? The variance contributing most to the year's excellent results is the favorable . This variance resulted from selling the company's product at