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Nina Company prepared the following fixed budget for July using 7700 units for budgeted sales. Actual sales were 7.400 units and actual costs are shown below. Fixed Budget Variable Amount per Total Fixed Unit Cost $100 Fixed Budget 7.700 units) $ 270,000 Actual Results (7.480 units) $ 756,700 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 Income 269,580 115.500 3e, 800 84,700 500, 500 $ 269,500 274,000 112,600 29,000 80.500 496,100 $ 260,600 $ 35 $ 70,100 41,600 10,300 7,500 33.900 $ 163,500 70,100 41,600 10,300 7,600 33.900 163,500 $ 105,000 70,100 42,800 10,300 7,600 30.600 161,400 $.99.200 Prepare a flexible budget performance report for July at activity level of 7400 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 (7,400 units) (7.400 units) For Month Ended July 31 Variances Favorable/Untavorable 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

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