Top managers of McKnight Industries predicted 2024 sales of 14.000 units of its product at a unit price of $7.00. Actual sales for the year were 14,000 units at $10.00 each. Variable costs were budgeted at $2.10 per unit, and actual variable costs were $2.20 per unit. Actual fixed costs of $43,000 exceeded budgeted fleed costs by $4,000. Prepare McKnight's Bexible 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. Fast, 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 " for any zero balances. For any 50 variances, save the Favorable (FUnfavorable (U) input blank) McKnight Industries Flexible Budget Performance Report For the Year Ended December 31, 2024 2 3 (3)-15) Budget Flexible Amounts Actual Budget Flexible Sales Volume Statio Per Unit Results Variance Budget Variance Budget 14000 14000 14600 U Revenue 7.00 Vina Costs 2.10 Centrition Mergin