Nina Company prepared the following fixed budget for July using 7,780 units for budgeted sales. Actual sales were 7,480 units and actual costs are shown below. Fixed Budget Variable Amount per Total Fixed Unit Cost $ 100 Fixed Budget (7,780 units) $ 778,000 Actual Results (7,480 units) $ 764,580 35 15 4 11 272,380 116,789 31,120 85,580 585, 7ee $ 272,380 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 276,880 113,800 29,320 81,340 501,340 $ 263, 240 65 $ 35 $ 70,860 42,840 10,420 7,680 33,900 $ 164,900 70,860 42,840 18,420 7,680 33,900 164,980 $ 107,480 70,860 43,280 10,420 7,680 30,920 163, 160 $ 100,080 Prepare a flexible budget performance report for July at activity level of 7,480 units. Show variances between budgeted and actual amounts. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance.) NINA COMPANY Flexible Budget Performance Report Flexible Actual Budget Results (7,480 units) (7.480 units) For Month Ended July 31 Variances Favorable/Unfavorable Sales Variable costs Direct materials 0 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 0 0 Income