Nina Company prepared the following fixed budget for July using 7,640 units for budgeted sales. Actual sales were 7,340 units and actual costs are shown below. Fixed Budget For Month Ended July 31 Variable Amount per Unit Total Fixed Cost Fixed Budget (7,640 units) Actual Results (7,340 units) Sales $ 100 $ 764,000 $ 750,790 Variable costs Direct materials 35 267,400 271,840 Direct labor 15 114,600 111,700 Indirect materials 4 30,560 28,760 Sales commissions 11 84,040 79,870 Total variable costs 65 496,600 492,170 Contribution margin $ 35 $ 267,400 $ 258,620 Fixed costs DepreciationMachinery $ 69,530 69,530 69,530 Supervisor salary 41,270 41,270 42,440 Insurance 10,210 10,210 10,210 DepreciationOffice equipment 7,540 7,540 7,540 Administrative salaries 33,900 33,900 30,360 Total fixed costs $ 162,450 162,450 160,080 Income $ 104,950 $ 98,540 Prepare a flexible budget performance report for July at activity level of 7,340 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)