Nina Company prepared the following fixed budget for July using 7,580 units for budgeted sales. Actual sales were 7,280 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed Cost $ 100 per Unit Fixed Budget (7,580 units) $ 758,000 Actual Results (7,280 units) $ 744,880 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 265,300 113,700 30,320 83,380 492,700 $ 265,300 269,680 110,800 28,520 79,240 488,240 $ 256,640 $ 35 $ 68,960 40,940 10,120 7,480 33,900 $ 161,400 68,960 40,940 10,120 7,480 33,900 161,400 $ 103,900 68,960 42,080 10,120 7,480 30, 120 158,760 $ 97,880 Income Prepare a flexible budget performance report for July at activity level of 7,280 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 (7,280 units) (7,280 units) For Month Ended July 31 Variances Favorable/Unfavorable Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs DepreciationMachinery Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income