Nina Company prepared the following fixed budget for July using 7,560 units for budgeted sales. Actual sales were 7,260 units and actual costs are shown below.

Fixed BudgetFor Month Ended July 31Variable Amount per UnitTotal Fixed CostFixed Budget (7,560 units)Actual Results (7,260 units)Sales$ 100$ 756,000$ 742,910Variable costsDirect materials35264,600268,960Direct labor15113,400110,500Indirect materials430,24028,440Sales commissions1183,16079,030Total variable costs65491,400486,930Contribution margin$ 35$ 264,600$ 255,980Fixed costsDepreciationMachinery$ 68,77068,77068,770Supervisor salary40,83040,83041,960Insurance10,09010,09010,090DepreciationOffice equipment7,4607,4607,460Administrative salaries33,90033,90030,040Total fixed costs$ 161,050161,050158,320Income$ 103,550$ 97,660

Prepare a flexible budget performance report for July at activity level of 7,260 units. Show variances between budgeted and actual amounts.(Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)