lina Company prepared the following fixed budget for July using 7,620 units for budgeted sales. Actual sales were 7,320 units and ctual costs are shown below. For Month ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Fixed Budget Variable Amount per Total Fixed Unit $ 100 35 15 4 11 65 $ 35 Cost Contribution margin Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation-office equipment Administrative salaries Total fixed costs Income Fixed Budget (7,620 units) $ 762,000 266,700 114,300 30,480 83,820 495,300 69,340 Actual Results (7,320 units) $ 748,820 271,120 111,400 28,680 79,660 490,860 $ 257,960 $ 266,700 $ 69,340 69,340 41,160 41,160 42,320 10,180 10,180 10,180 7,520 7,520 7,520 33,900 33,900 30,280 $ 162,100 162,100 $ 104,600 159,640 $ 98,320 Prepare a flexible budget performance report for July at activity level of 7,320 units. Show variances between budgeted and actual mounts. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Homework: Flexible Budgets Assignment i 3 amounts. Saved Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. NINA COMPANY 3 Flexible Budget Performance Report points For Month Ended July 31 Flexible Budget Actual Results Variances Favorable or Unfavorable (7,320 units) (7,320 units) Sales eBook Variable costs Direct materials Print Direct labor Indirect materials Sales commissions References Total Variable Costs 0 0 Contribution margin Fixed costs Depreciation-Machinery Supervisory salary Insurance Depreciation-Office equipment Administrative salaries Total Fixed Costs Income 0 0