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Top managers of Stenback Industries predicted 2024 sales of 14,900 units of its product at...

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Top managers of Stenback Industries predicted 2024 sales of 14,900 units of its product at a unit price of $7.50. Actual sales for the year were 14,100 units at $10.50 each. Variable costs were budgeted at $2.40 per unit, and actual variable costs were $2.50 per unit. Actual fixed costs of $47,000 exceeded budgeted fixed costs by $5,000. Prepare Stenback'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.) Stenback Industries Flexible Budget Performance Report For the Year 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 Units 14100 14900 14900 Sales Revenue 7.50 148050 36300||F 111750 2.40 35250 Variable Costs U 35760 Contribution Margin 112800 75990

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