Prepare a flexible budget performance report for July at activity level of 7,460 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 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 Flexible Budget (7,460 units) Actual Results (7,460 units) Variances Favorable/Unfavorable 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 Fixed Budget Variable Amount per Total Fixed Unit Cost $180 35 15 4 11 65 $ 35 Fixed Budget (7,760 units) $ 776,000 271,600 116,400 Actual Results (7,460 units) $ 762,618 276,160 113,588 29,240 $ 70,670 31,040 85,360 584,400 $ 271,600 81,138 500,030 $ 262,580 70,670 70,670 41,930 41,930 43,160 10,398 10,390 10,398 7,660 7,660 7,660 33,900 33,900 30,848 $164,550 164,550 162,728 $ 107,050 $ 99,860