Nina Company prepared the following fixed budget for July using 7,800 units for budgeted sales. Actual...

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Nina Company prepared the following fixed budget for July using 7,800 units for budgeted sales. Actual sales were 7,500 units and actual costs are shown below. 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 $100 35 15 Cost Fixed Budget (7,800 units) $780,000 273,000 Actual Results (7,500 units) $ 766,550 277,600 114,100 117,000 31,200 29,400 11 85,800 81,550 65 $ 35 507,000 $ 273,000 502,650 $263,900 $ 71,050 71,050 71,050 42,150 42,150 43,400 10,450 10,450 10,450 7,700 7,700 7,700 33,900 $165,250 33,900 31,000 165,250 $107,750 163,600 $ 100,300 Prepare a flexible budget performance report for July at activity level of 7,500 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 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 NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,500 units) Actual Results (7,500 units) Variances Favorable/Unfavorable Nina Company prepared the following fixed budget for July using 7,800 units for budgeted sales. Actual sales were 7,500 units and actual costs are shown below. 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 $100 35 15 Cost Fixed Budget (7,800 units) $780,000 273,000 Actual Results (7,500 units) $ 766,550 277,600 114,100 117,000 31,200 29,400 11 85,800 81,550 65 $ 35 507,000 $ 273,000 502,650 $263,900 $ 71,050 71,050 71,050 42,150 42,150 43,400 10,450 10,450 10,450 7,700 7,700 7,700 33,900 $165,250 33,900 31,000 165,250 $107,750 163,600 $ 100,300 Prepare a flexible budget performance report for July at activity level of 7,500 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 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 NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,500 units) Actual Results (7,500 units) Variances Favorable/Unfavorable