Nina Company prepared the following fixed budget for July using 7,660 units for budgeted sales. Actual sales were 7,360 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed per Unit Cont $ 100 Fixed Budget (7.660 units) $ 766,000 Actual Results (7.360 units) $ 752,760 35 15 4 11 65 $ 35 For Month Ended July 31 Sales Variable conta Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation office equipment Administrative salaries Total fixed costs Income 268,100 114,900 30,640 84,260 497,900 $ 268,100 272,560 112,000 28,840 80,080 493, 480 $ 259, 280 $ 69, 720 41,380 10,240 7,560 33,900 $ 162,800 69,720 41,380 10,240 7,560 33,900 162,800 $ 105,300 69,720 42,560 10,240 7,560 30, 440 160,520 $ 98,760 Prepare a flexible budget performance report for July at activity level of 7,360 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Prepare a flexible budget performance report for July at activity level of 7,360 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 (7,360 units) (7,360 units) For Month Ended July 31 Variances Favorable/Unfavorable 0 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 0