Top managers of Smith Industries predicted 2024 sales of 15,100 units of its product at a unit price of $7.50. Actual sales for the year were 14,500 units at $10.00 each. Variable costs were budgete at $2.20 per unit, and actual variable costs were $2.30 per unit. Actual fixed costs of $44,000 exceeded budgeted fixed costs by $5,200 Prepare Smith'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.) Units Sales Revenue Variable Costs Contribution Margin Budget Amounts Per Unit Smith Industries Flexible Budget Performance Report For the Year Ended December 31, 2024 1 3 Actual Results 2 (1)-(3) Flexible Budget Variance Flexible Budget 4 (3) - (5) Sales Volume Variance 5 Static Budget DERNIER

Top managers of Smeh industries predicted 2024 sales of 15,100 units of is product at a unt price of $7,50 Actual sales for the year were 14,300 units at $1000 each Variable costs wore budget at $2.20 per unit, and actual vanable costs were $2.30 per unit. Actual fixed conts of $44,000 exceeded budgeted fxed costs by $5,200 Prepare Smith's flexible budget performance report. What varince contributed most to the year's favoratio results? What caused tha varance? Prepare a flexble budget performance report for the year. First, compieto the fexble budgot pertomance report through the contnoution margin line, then complete the report trough the operating