Nina Company prepared the following fixed budget for July using 7820 units for budgeted sales. Actual sales were 7,520 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed per Unit Cost $ 100 Actual Results (7,520 units) $ 768,520 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 35 15 4 11 65 $ 35 Fixed Budget (7,820 units) $ 782,800 273,700 117,300 31,280 86,020 588,300 $ 273,700 278,320 114,400 29,480 81,760 503,960 $ 264,560 $ 71,240 42,260 10,480 7.720 33,900 $ 165,600 71,240 42,260 10,480 7,720 33,900 165,600 $ 108, 100 71,240 43,520 10,480 7.720 31,080 164,040 $ 100,520 Prepare a flexible budget performance report for July at activity level of 7,520 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 (7,520 units) 17,520 units) For Month Ended July 31 Variances Fav/Unt. Sales Variable costs Direct materials Prepare a flexible budget performance report for July at activity level of 7,520 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 (7,520 units) (7.520 units) Variances Fav/Unt. 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 Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income