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Top managers of Kyler Industries predicted 2024 sales of 15,100 units of its product at a unit price of $10.00. Actual sales for the year were 14,500 units at $11.50 each. Variable costs were budgeted at $2.60 per unit, and actual variable costs were $2.70 per unit. Actual fixed costs of $49,000 exceeded budgeted fixed costs by $4,500. Prepare Kyler'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.) Kyler Industries Flexible Budget Performance Report For th Ended December 31, 2024 1 2 3 4 5 (1)-(3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Per Unit Results Variance Budget Variance Budget Amounts Actual Budget Flexible Volume Static Per Unit Results Variance Budget Variance Budget 15,200 Units 14,200 14,200 Sales Revenue $ 9.00 $ 142,000 $ 14,200 F $ 127,800 $ 9,000 U 136,800 36,480 2.40 Variable Costs 35,500 1,420 u 34,080 2,400 F Contribution Margin 106,500 93,720 6,600 U 100,320 12,780 F 2,500 49,000 Fixed Costs 46,500 0 46,500 $ 57,500 $ 10,280 $ 47,220 $ 6,600 F Operating Income 53,820 U Sales Volume Variance Flexible Budget Variance $ 10,280 F 1 $ 6,600 u Static Budget Variance $ 3,680 F What variance contributed most to the year's favorable results? What caused this variance? This variance resulted from selling the The variance contributing most to the year's excellent results is the favorable flexible budget variance for sales revenue company's product at a higher-than-expected price