SPS Ltdoperates in the high-technology energy solutions sector.The PV Division designs, manufactures and installs solar panel systems.These systems are sold as either: small, medium or large systems.Small systems have a peak power generating capacity up to 100 kW (100,000 W); medium systems up to 1 MW (1,000,000 W); and large systems above 1 MW.The following information relates to the planning and actual data for 2020

The volume variance of $15 100 is due to:

Group of answer choices

Higher-than-expected selling prices.

Activities in the PV division being more efficient than planned.

Actual sales volume being higher than planned.

Actual contribution margin per system being higher than planned.

SPS Ltd - PV Division Variance Report Year ended 31 December 2020 FLEXED BUDGET variance BUDGET variance ACTUAL Operational Data Average Price $/W $/W Small Systems 2.25 2.20 Medium Systems 2.00 1.95 Large Systems 1.75 1.50 Average Variable Cost $/W $/W Small Systems 1.75 1.68 Medium Systems 1.50 1.45 Large Systems 1.00 1.25 Sales Volume MW MW Small Systems 10.000 15.000 Medium Systems 45.000 100.000 Large Systems 45.332 25.464 100.332 140.464 Financial Data $'000 $'000 Total for PV Division sales revenue 191,830 86,482 278,312 (12,116) 266,196 variable costs (130,332) (71,382) (201,714) (316) (202,030) contribution 61,498 15,100 76,598 (12,432) 64,166 non-variable costs (21,524) (21,524) (646) (22,170) operating profit 39,974 15,100 55,073 (13,077) 41,996 Market Data 2019 2020 2020 actual planned actual market size (MW) 2,272 328 2,600 2,372 4,972