Nina Company prepared the following fixed budget for July using 7,540 units for budgeted sales. Actual sales were 7,240 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed For Month ended July 31 Sales per Unit Cost $ 100 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 Incone 35 15 324 11 Fixed Budget (7,540 units) $ 754,000 263,900 113,100 30,160 82,940 490,100 $ 263,900 Actual Results (7,240 units) $740,940 268,240 110,200 28,360 78,820 485,620 $ 255,320 65 $ 35 $ 68,580 68,580 68,580 40,720 40,720 41,840 10,060 10,060 10,060 7,448 7,448 7,448 33,900 33,900 29,968 $ 160,700 160,700 157,880 $ 103,200 $97,440 Prepare a flexible budget performance report for July at activity level of 7,240 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) NINA COMPANY For Month Ended July 31 Flexible Budget Performance Report Flexible Actual Budget Results Variances Favorable Unfavorable (7.240 units) (7,240 units) 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 0