Nina Company prepared the following fixed budget for July using 7,680 units for budgeted sales. Actual sales were 7,380 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed per Unit $ 100 Fixed Budget (7,680 units) $ 768,000 Actual Results (7,380 units) $ 754,730 For Month Ended July 31 Cost Sales Variable costa Direct materials 273,280 112,300 28,920 80,290 494,790 35 268, 800 115,200 30,720 84,480 499,200 $ 268,800 Direct labor Indirect materials 15 Sales commissions 11 Total variable costs 65 Contribution margin $ 35 $ 259,940 Fixed costs $69,910 41,490 10,270 7,580 33,900 $ 163,150 69,910 41,490 10,270 7,580 69,910. 42,680 10,270 7,580 30,520 160,960 Depreciation-Machinery Supervinor salary Insurance Depreciation-office equi pment Administrative salaries 33,900 163,150 Total fixed costs $ 105,650 $ 98,980 Income Prepare a flexible budget performance report for July at activity level of 7,380 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Income Prepare a flexible budget performance report for July at activity level of 7,380 units, Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,380 units) Actual Results (7,380 units) For Month Ended July 31 Variances Fav/Unf. 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