Nina Company prepared the following fixed budget for July using 7,500 units for budgeted sales. Actual sales were 7,200 units and actual costs are shown below. For Month Ended July 31 Sales Variable costs. Direct materials Direct labor Indirect materials Fixed Budget Variable Amount per Total Fixed Cost Unit $ 100 Fixed Budget (7,500 units) $750,000 262,500 112,500 30,000 82,500 487,500 $ 262,500 Actual Results (7,200 units) $ 737,000 266,800 109,600 28,200 78,400 483,000 $ 254,000 35 15 4 Sales commissions 11 Total variable costs 65 Depreciation Machinery Contribution margin Fixed costs Supervisor salary Insurance Depreciation Office equipment Administrative salaries. Total fixed costs $ 35 $ 68,200 68,200 68,200 40,500 40,500 41,600 10,000 10,000 10,000 7,400 7,400 7,400 33,900 33,900 29,800 $ 160,000 160,000 157,000 Income $ 102,500 $ 97,000 Prepare a flexible budget performance report for July at activity level of 7,200 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)