3 12.5 points Nina Company prepared the following fixed budget for July using 7,840 units for budgeted sales. Actual sales were 7,540 units and actual costs are shown below. Fixed Budget Variable ebook References For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Contribution margin Fixed costs Depreciation-Machinery per Unit Amount Total Fixed Cost Fixed Budget (7,840 units) $100 $ 784,000 35 274,400 117,600 31,360 86,240 509,600 Actual Results (7,540 units) $ 770,498 279,040 114,700 29,560 81,978 505,270 15 4 11 Total variable costs: 65 $ 35 $274,400 $ 265,220 $ 71,430 42,370 71,4301 71,430 42,370 43,640 10,510 10,510 10,510 7,740 7,740 7,740 33,900 $165,950 33,900 31,168 165,950 164,480 $108,450 $ 100,740 Supervisor salary Insurance Depreciation-office equipment Administrative salaries Total fixed costs Incone Prepare a flexible budget performance report for July at activity level of 7,540 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) 3 Prepare a flexible budget performance report for July at activity level of 7,540 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) NINA COMPANY Flexible Budget Performance Report 12.5 points For Month Ended July 31 eBook Sales Variable costs i Direct materials References Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs Depreciation Machinery Supervisory salary Insurance Depreciation-Office equipment Administrative salaries Total Fixed Costs Income: Flexible Budget (7,540 units) Actual Results (7,540 units) Variances Favorable/Unfavorable: