What is the contribution margin? What information is missing?

Nina Company prepared the following fixed budget for July using 7720 units for budgeted sales. Actual sales were 7.420 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 (7,720 units) (7,420 units) Sales $ 100 $ 772,000 $ 758,670 Variable costs Direct materials 35 270,200 274, 720 Direct labor 15 115,800 112,900 Indirect materials 4 30,880 29,080 Sales commissions 11 84,920 80, 710 Total variable costs 65 501,800 497, 410 Contribution margin $ 35 $ 270,200 $ 261, 260 Fixed costs Depreciation Machinery $ 70,290 70,290 70,290 Supervisor salary 41,710 41,710 42,920 Insurance 10,330 10,330 10,330 Depreciation office equipment 7,620 7,620 7,620 Administrative salaries 33,900 33,900 30.680 Total fixed costs $ 163,850 163,850 161,840 $ 106,350 $ 99,420 Income Prepare a flexible budget performance report for July at activity level of 7,420 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Help Save & Exit Prepare a flexible budget performance report for July at activity level of 7,420 units, Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended July 31 NINA COMPANY Flexible Budget Performance Report Flexible Actual Budget Rosults Variances Favorable/Unfavorable (7.420 units) (7,420 units) $ 742,000 $ 758,670 $ 16,670 Favorable 259,700 111,300 29,680 81,620 482,300 274.720 112,900 29,080 80,710 497.4101 15,020 Unfavorable 1,600 Unfavorable 600 Favorable 910 Favorable 15,110 Unfavorable 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 70,290 41,710 10,330 7.620 33.900 163,850 95,850 $ 70,290 42,920 10,330 7,620 30,680 161,840 99,4207 s o No variance 1,210 Unfavorable O No variance o No variance 3,220 Favorable 2,010 Favorable 3.570 Favorable $