Nina Company prepared the following fixed budget for July using 7,720 units for budgeted sales. Actual sales were 7,420 units and actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials: Direct labor Indirect materials Sales commissions Contribution margin Fixed costs Fixed Budget Variable Amount Total Fixed Cost per Unit $ 100 35 15 Fixed Budget (7,720 units) $ 772,000 Actual Results (7,420 units) $ 758,670 274,720 112,900 270,200 115,800 30,880 84,920 501,800 70,290 29,080 80,710 497,410 $ 261,260 4 11 Total variable costs. 65 $ 35 $ 270,200 Depreciation-Machinery Supervisor salary. $ 70,290 70,290 41,710 41,710 42,920 Insurance Depreciation-Office equipment Administrative salaries: Total fixed costs 10,330 10,330 10,330 7,620 7,620 7,620 33,900 33,900 30,680 $ 163,850 163,850 161,840 Income $ 106,350 $ 99,420 Prepare a flexible budget performance report for July at activity level of 7.420 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Prepare a flexible budget performance report for July at activity level of 7,420 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 NINA COMPANY Flexible Budget Performance Report Flexible Actual Budget Results. Variances Favorable/Unfavorable (7,420 units) (7,420 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