Nina Company prepared the following fixed budget for July using 7,820 units for budgeted sales. Actual sales were 7,520 units and actual costs are shown below Pied Budget Variable Amount Total rised For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials per Unit Cost $100 Fixed Budget (7.820 unite) $782,000 Actual Results (7.520 unita) 35 15 273,700 117,300 $768,520 278.320 114,400 4 31,200 29,480 Sales commissions 11 6,020 #1,760 Total variable costs 45 508,300 503,960 Contribution margin $ 35 $273,700 $264,560 Fixed costs Depreciation-Machinery $21,240 71,240 71,240 Supervisor salary 42,260 42,260 43,520 Insurance 10,400 10,400 10,400 Depreciation-office equipment Administrative salaries 7.720 7,720 7,720 Total fixed costs Incone 33,900 $165,600 33,900 31,080 165,600 $100,100 164,040 #100,520 Prepare a flexible budget performance report for July at activity level of 7,520 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 Depredation-Office equipment Administrative salaries Total Fixed Costs NINA COMPANY Flexible Budget Performance Report Flexible Actual Budget Results Variances Favorable/Unfavorable (7.820 units) (7,820 units)