Top managers of Preston Industries predicted 2018 sales of 15,200 units of its product at a unit price of $6.50. Actual sales for the year were 14,700 units at $11.00 each. Variable costs were budgeted at $2.20 per unit, and actual variable costs were $2.30 per unit. Actual fixed costs of $45,000 exceeded budgeted fixed costs by $4,600. Prepare Preston'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.) Preston Industries Flexible Budget Performance Report For the Year Ended December 31, 2018 2 3 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 10What variance contributed most to the year's favorable results? What caused this variance? The variance contributing most to the years excellent results is the Favorable V _ This variance resulted from selling the company's product at Y _ flexible budget variance for operating income flexible budget variance for sales revenue sales volume variance for operating income sales volume variance for sales revenue What variance contributed most to the year's favorable results? What caused The variance contributing most to the year's excellent results is the favorable This variance resulted from selling the company's product ata higherthan-expected price ar's lavorable results? What caused this variance? a lowerthanexpected price the normal price :- II's excellent results is the favorable Y _ This variance resulted from selling the company's product at