Nina Company prepared the following fixed budget for July using 7,860 units for budgeted sales. Actual sales were 7,560 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed per Unit Cost $ 100 Fixed Budget (7.860 units) $ 786,000 Actual Results (7.560 units) $ 772,460 35 15 4 11 65 For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costa Contribution margin Fixed costs Depreciation Machinery Supervisor salary Insurance Depreciation office equipment Administrative salaries Total fixed costs 275, 100 117,900 31,440 86,460 510.900 $ 275,100 279,760 115,000 29,640 82,180 506, 580 $ 265,880 $ 35 $ 71,620 42, 480 10,540 7,760 33.900 $ 166,300 71,620 42,480 10.540 7,760 33,900 166,300 $ 108,800 71,620 43,760 10,540 7,760 31, 240 164,920 $ 100,960 Income Prepare a flexible budget performance report for July at activity level of 7,560 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 Budget Results (7.560 units) (7.500 units) For Month Ended July 31 Variances Favorable/Unfavorable 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 Foxed Costs Income