For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Variable Amount per Unit $ 100 35 Total Fixed Fixed Budget Cost (7,720 units) $ 772,000 270,200 115,800 30,880 84,920 501,800 70,290 Actual Results (7,420 units) $ 758,670 274,720 112,900 29,080 80,710 497,410 $ 261,260 15 4 11 Total variable costs 65 $ 35 $ 270,200 $ 70,290 70,290 41,710 41,710 42,920 10,330 10,330 10,330 7,620 7,620 7,620 33,900 33,900 30,680 Total fixed costs Income $ 163,850 163,850 161,840 $ 106,350 Contribution margin Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation-Office equipment Administrative salaries $ 99,420 Prepare a flexible budget performance report for July at activity level of 7,420 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended July 31 Sales Variable costs Direct materials 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 NINA COMPANY Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/Unfavorable (7,420 units) (7,420 units) 0 0 0 0