2 125 points eBook Prim Nina Company prepared the following fixed budget for July using 7.500 units for budgeted sales. Actual sales were 7.200 units and actual costs are shown below. For Honth Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs References Supervisor salary Depreciation-Hachinery Insurance Depreciation-office equipment Administrative salaries Total fixed costs Income Fixed Budget Variable Amount per Total Fixed Cost Actual Results (7,200 units) $737,000 Unit $100 Fixed Budget (7.500 units) $750,000 35 262,500 266,800 15 112,500 109,600 4 30,000 28,200 11 82,500 78,400 65 487,500 485,000 $ 35 $262,500 $254,000 $ 68,200 68,200 68,200 40,500 40,500 41,600 10,000 10,000 10,000 7,400 7,400 7,400 33,900 $160,000 33,900 29,800 160,000 $ 102,500 157,000 $ 97,000 Prepare a flexible budget performance report for July at activity level of 7.200 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) NINA COMPANY For Month Ended July 31. Sales Variable costs Direct materials Direct labor a Indirect materials Sales commissions Total Variable Costs Contribution margin Flexible Budget Performance Report Flexible Budget (7.200 units) Actual Results (7.200 units) Variances Favorable/Unfavorable Favorable Unfavorable Unfavorable Favorable Favorable Unfavorable Favorable IN HIE CHE variance by selecting favorable, unfavorable, or no variance.) For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials- NINA COMPANY Flexible Budget Performance Report Flexible Actual Budget (7,200 units) Results (7,200 units) Variances Favorable/Unfavorable Favorable Unfavorable Unfavorable Favorable Sales commissions Total Variable Costs: Contribution margin Fixed costs Depreciation-Machinery Supervisory salary Insurance Depreciation-Office equipment Administrative salaries Total Fixed Costs Income 0 0 Favorable Unfavorable Favorable No variance Unfavorable No variance No variance Favorable Favorable Favorable