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. 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 15 4 11 65 $ 35 Cost Fixed Budget (7,540 units) $ 754,000 263,900 Actual Results (7,240 units) $ 740,940 268,240 110,200 28,360 78,820 485,620 $ 255,320 68,580 113,100 30,160 82,940 490,100 $ 263,900 68,580 40,720 41,840 10,060 10,060 10,060 7,440 7,440 7,440 33,900 33,900 $ 160,700 160,700 157,880 $ 103,200 $ 97,440 $ 68,580 40,720 29,960 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 varlance.) NINA COMPANY Flexible Budget Performance Report Flexible Actual For Month Ended July 31 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 0 0