Nina Company prepared the following fixed budget for July using 7,800 units for budgeted sales. Actual sales were 7,500 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 Fixed Budget Variable Amount Total Fixed per Unit $ 100 35 15 4 11 65 $ 35 Cost Income Fixed Budget (7.800 units) $780,000 273,000 117,000 31,200 85,800 507,000 $ 273,000 Actual Results (7,500 units) $ 766,550 277,600 114,100 29,400 81,550 502,650 $ 263,900 $ 71,050 71,050 71,050 42,150 42,150 43,400 10,450 10,450 10,450 7,700 7,700 7,700 33,900 33,900 31,000 $ 165,250 165,250 163,600 $ 107,750 $ 100,300 Prepare a flexible budget performance report for July at activity level of 7,500 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Income $ 107,750. $ 100,300 Prepare a flexible budget performance report for July at activity level of 7,500 units. Show variances between budgeted and actua amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) NINA COMPANY es 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 Flexible Budget Performance Report Flexible Actual Budget Results Variances Favorable/Unfavorable (7,500 units) (7,500 units)