Top managers of McKnight Industries predicted

2024 sales of 14,500 units of its product at a unit price of

$ 6.50 Actual sales for the year were 14,300 units at $9.00 each. Variable costs were budgeted at $2.40 per unit, and actual variable costs were $2.50 per unit. Actual fixed costs of $44,000 exceeded budgeted fixed costs by $4,500.

Prepare McKnight's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance?

Part 1

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.)

Tiomanager of Monight te perdited 2024. 14.00 units of the product at a unit price of $6.00. Actual sales for the year were 14.300 units at $800 och variatie cons were bud mod at 82.40 perunt and trace 2. perunt Alfred costs of $44,000 ceded budgeted feed costs by $1.500 Prepare Mcknigrefectele budget performance report What variance combud most to the years trai tuw? What caused this variance? Prepare a fete budget performance report of the year. Fost complete the ble budou prorance report through the correction margin rouge ting income in Fray complete warances fra force or any vrou, ever McKnights Flesbelludot Performance Report For the Year Ended December 31, 2024 2 3 5 3:15 Bulget Plexible Sale Amount Aca Budget Flexible Volume State Per Unit Result Varance Budget Virtance Budget Un seves Vanntet Corto Mar