Nina Company prepared the following fixed budget for July using 7,620 units for budgeted sales. Actual sales were 7,320 units and actual costs are shown below. 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 Supervisor salary Insurance Depreciation-Office equipment Administrative salaries Total fixed costs Income Fixed Budget Variable Amount per Total Fixed Unit $ 100 35 Cost Fixed Budget (7,620 units) $ 762,000 266,700 114,300 30,480 83,820 495,300 $ 266,700 Actual Results (7,320 units) $ 748,820 271,120 111,400 28,680 79,660 490,860 $ 257,960 15 4 11 65 $ 35 $ 69,340 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 $ 162,100 162,100 159,640 $ 104,600 $ 98,320 Prepare a flexible budget performance report for July at activity level of 7,320 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 > Answer is not complete. NINA COMPANY Flexible Budget Performance Report Variances Flexible Actual Budget Results Favorable/Unfavorable (7,320 (7,320 units) units) $ 732,000 $ 748,820 $ (16,820) Favorable Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions 271,120 Unfavorable 111,400 Unfavorable 28,680 Favorable 79,660 Total Variable Costs 0 490,860 Contribution margin Favorable Unfavorable Favorable Fixed costs Depreciation-Machinery Supervisory salary Insurance Depreciation-Office equipment Administrative salaries Total Fixed Costs Income 0 0 No variance Unfavorable No variance No variance Favorable Favorable Favorable