Top Managers of Yearon Ltd. predicted the following years sales of 147,500 units of its product at a unit price of $9.40. Actual sales for the year were 144,500 units at $11.00 each. Variable expenses were budgeted at $2.40 per unit, and actual variable expenses were $2.70 per unit. Actual fixed expenses of $460,000 exceeded budgeted fixed expenses by $32,500. Prepare Yearon Ltd. income statement performance report. What variance contributed most to the year's favourable results? What caused this variance?

 

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Prepare Yearon Ltd.'s income statement performance report. (For accounts with a zero balance, make sure to enter "0" in the appropriate column. not select a label.) Yearon Ltd. Income Statement Performance Report For the Year Flexible Budget for Actual Results at Flexible Budget Actual Number of Sales Volume Static (Master) Actual Prices Variance Output Units Variance Budget Output units Sales revenue Variable expenses Fixed expenses Total expenses Operating income Prepare Yearon Ltd.'s income statement performance report. (For accounts with a zero balance, make sure to enter "0" in the appropriate column. not select a label.) Yearon Ltd. Income Statement Performance Report For the Year Flexible Budget for Actual Results at Flexible Budget Actual Number of Sales Volume Static (Master) Actual Prices Variance Output Units Variance Budget Output units Sales revenue Variable expenses Fixed expenses Total expenses Operating income

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