m. Nina Company prepared the following fixed budget for July using 7,700 units for budgeted sales. Actual sales were 7,400 units and actual costs are shown below. 3 points Fixed Budget Variable Amount Total Fixed Fixed Budget per Unit Cost (7,700 units) $ 100 $ 770,000 For Month Ended July 31 Actual Results (7,400 units) $ 756,700 04:36:42 Sales Skipped 35 15 4 11 65 274,000 112,600 29,000 80,500 496,100 $ 260, 600 269,500 115,500 30,800 84,700 500, 500 $ 269,500 eBook Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs Depreciation Machinery Supervisor salary Insurance Depreciation office equipment Administrative salaries Total fixed costs $ 35 Print $ 70,100 41,600 10,300 7,600 33,900 $ 163,500 70,100 41,600 10,300 7,600 33,900 70,100 42,800 10,300 7,600 30, 600 161,400 $ 99,200 References 163,500 Income $ 106,000 Prepare a flexible budget performance report for July at activity level of 7,400 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 Flexible Actual Budget Results (7,400 units) (7,400 units) For Month Ended July 31 Variances Favorable/Unfavorable Sales 0 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 0