Nina Company prepared the following fixed budget for July using 7,620 units for budgeted sales. Actual sales were 7,320 units and actual costs are shown below. Fixed Budget Variable Amount par Fixed Budget (7,620 Actual Results [7,320 For Month Ended July 31 Unit Total Fixed Cost units units Sales $ 100 $ 762,000 $ 748,820 Variable costs Direct materials 35 266,700 271,120 Direct labor 15 114,300 111,400 Indirect materials 30,480 28,680 Sales commissions 11 83,820 79,660 Total variable costs 65 495,300 490,860 Contribution margin $ 35 $ 266,700 $ 257,960 Fixed costs Depreciation-Machinery $ 69,340 69,340 69,340 Supervisor salary 41,160 41,160 42,320 Insurance 10,180 10,180 10,180 Depreciation-Office equipment 7.520 7,520 7,520 Administrative salaries 33,900 33.900 30,280 Total fixed costs $ 162,100 162,100 159,640 Income $ 104,600 $ 98,320 Prepare a flexible budget performance report for July at activity level of 7,320 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 Actual For Month Ended July 31 Budget Results Variances Favorable/Unfavorable (7,320 units) (7,320 units) Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs 0 of Contribution margin Fixed costs Depreciation-Machinery Supervisory salary Insurance Depreciation-Office equipment Administrative salaries Total Fixed Costs 0 0