Nina Company prepared the following fixed budget for July using 7.900 units for budgeted sales. Actual sales were 7.600 units and actual costs are shown below. Fixed Budget Variable Amount per Total Fixed Fixed Budget Actual Results For Month Ended July 31 Unit Cost (7,900 units) (7,608 units) Sales $ 180 $ 790,080 $ 776, 400 Variable costs Direct materials 35 276, 580 281, 280 Direct labor 15 118, 500 115, 608 Indirect materials 4 31, 600 29, 800 Sales commissions 11 86,900 82, 603 Total variable costs 65 513, 500 509, 290 Contribution margin $ 35 $ 276, 500 $ 267, 208 Fixed costs Depreciation Machinery $ 72,080 72, 909 72,800 Supervisor salary 42, 780 42, 780. 44, 980 Insurance 10, 609 10, 608 10, 608 Depreciation Office equipment 7, 890 7, 808 7, 800 Administrative salaries 33,908 33, gee 31, 400 Total fixed costs $ 167,098 167, Bee 165, 808 Income $ 109, 509 $ 101, 408 Prepare a flexible budget performance report for July at activity level of 7.600 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no varlance.) NINA COMPANY Flexible Budget Performance Report Flexible Actual For Month Ended July 31 Budget Results Variances Favorable/Unfavorable (7,600 units) (7,600 units) Sales Favorable Variable costs Direct materials Unfavorable Direct labor Unfavorable Indirect materials avorable Sales commissions Favorable Total Variable Costs Unfavorable Contribution margin Favorable Fixed costs Depreciation-Machinery 72,000 72.000 No variance Supervisory salary Unfavorable Insurance 0,600 0,600 No variance Depreciation-Office equipment 7.800 7,800 No variance Administrative salaries Favorable Total Fixed Costs 20.400 90.400 Favorable Income Favorable