Nina Company prepared the following fixed budget for July using 7,560 units for budgeted sales. Actual sales were 7,260 units and actual costs are shown below. Fixed Budget Variable Amount per Total Fixed Unit Cost $ 100 Fixed Budget (7,560 units) $ 756,000 Actual Results (7,260 units) $ 742,910 35 15 4 11 65 For Month Ended July 31 Sales Variable costs 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 264,600 113,400 30, 240 83,160 491,400 $ 264,600 268,960 110,500 28,440 79,030 486,930 $ 255,980 $ 35 $ 68,770 40,830 10,090 7,460 33,900 $ 161,050 68,770 40,830 10,090 7,460 33,900 161,050 $ 103,550 68,770 41,960 10,090 7,460 30, 040 158,320 $ 97,660 Prepare a flexible budget performance report for July at activity level of 7,260 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 (7,260 units) (7,260 units) For Month Ended July 31 Variances Fav./Unf. 0 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 0