Nina Company prepared the following fixed budget for July using 7,880 units for budgeted sales. Actual sales were 7,580 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 Total Fixed per Unit $ 100 35 Cost 15 4 Sales commissions 11 Total variable costs 65 Contribution margin $ 35 Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation-Office equipment Administrative salaries Total fixed costs $ 71,810 Fixed Budget (7,880 units) $ 788,000 275,800 118,200 31,520 86,680 512,200 $ 275,800 71,810 Actual Results (7,580 units) $ 774,430 280,480 115,300 29,720 82,390 507,890 $ 266,540 71,810 42,590 42,590 43,880 10,570 10,570 10,570 7,780 7,780 7,780 33,900 33,900 31,320 $ 166,650 166,650 165,360 Income $ 109,150 $ 101,180 Prepare a flexible budget performance report for July at activity level of 7,580 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 Depreciation-Office equipment Administrative salaries Total Fixed Costs Income NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,580 units) Actual Results (7,580 units) Variances Favorable/Unfavorable