Nina Company prepared the following fixed budget for July using 7,680 units for budgeted sales. Actual sales were 7,380 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed Fixed Budget Actual Results For Month Ended July 31 per Unit Cost (7.680 units) (7.380 units) Sales $ 100 $ 768,000 $ 754,730 Variable costs Direct materials 35 268,800 273,280 Direct labor 15 115,200 112,300 Indirect materials 4 30,220 28,920 Sales commissions 11 84,480 80290 Total variable costs 65 499,200 494,790 Contribution margin $ 35 $ 268,000 $ 259,940 Fixed costs Depreciation Machinery $ 69,910 69,910 69.910 Supervisor salary 41,490 41,490 42,680 Insurance 10,270 10,270 10,270 Depreciation office equipment 7.580 7,580 7.580 Administrative salaries 33,900 33,900 30,520 Total fixed costs $ 163,150 163,150 160,960 Income $ 105,650 $ 98,980 Prepare a flexible budget performance report for July at activity level of 7,380 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Income Prepare a flexible budget performance report for July at activity level of 7,380 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 (7,380 units) (7,380 units) Variances Fav./Unf. For Month Ended July 31 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