Top managers of McKnight Industries predicted 2024 sales of 14,600 units of its product at a unit price of $8.50Actual sales for the year were 14,000 units at $12.50 eachVariable costs were budgeted at $2.80 per unit, and actual variable costs were $per unitActual fixed costs of $45,000 exceeded budgeted fixed costs by $5,300 Prepare McKnight's flexible budget performance reportWhat variance contributed most to the year's favorable results? What caused this variance?

Variable costs were budgted at $2.20 per unit

Per Unit Results Units Sales Revenue Variable Costs Contribution Margin 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 variancess. (Enter a0 for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank.)