es Nina Company prepared the following fixed budget for July using 7,500 units for budgeted sales....

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es Nina Company prepared the following fixed budget for July using 7,500 units for budgeted sales. Actual sales were 7,200 units and actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials Direct labor Sales commissions Fixed Budget Variable Amount Total Fixed per Unit $.100 35 Cost Fixed Budget (7,500 units) $ 750,000 Actual Results (7,200 units) 262,500 112,500 30,000 82,500 487,500 $ 737,000 266,800 109,600 28,200 78,400 483,000 $ 254,000 15 Indirect materials 4 11 Total variable costs 65 Contribution margin $ 35 $ 262,500 $ 68,200 68,200 68,200 40,500 40,500 41,600 10,000 10,000 10,000 7,400 7,400 7,400 33,900 33,900 29,800 $ 160,000 160,000 157,000 $ 102,500 $ 97,000 Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation-Office equipment Administrative salaries Total fixed costs Income Prepare a flexible budget performance report for July at activity level of 7,200 units. Show variances between budgeted and actual amounts. Note: 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 (7,200 units) Actual Results (7,200 units) Variances Favorable or Unfavorable es Nina Company prepared the following fixed budget for July using 7,500 units for budgeted sales. Actual sales were 7,200 units and actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials Direct labor Sales commissions Fixed Budget Variable Amount Total Fixed per Unit $.100 35 Cost Fixed Budget (7,500 units) $ 750,000 Actual Results (7,200 units) 262,500 112,500 30,000 82,500 487,500 $ 737,000 266,800 109,600 28,200 78,400 483,000 $ 254,000 15 Indirect materials 4 11 Total variable costs 65 Contribution margin $ 35 $ 262,500 $ 68,200 68,200 68,200 40,500 40,500 41,600 10,000 10,000 10,000 7,400 7,400 7,400 33,900 33,900 29,800 $ 160,000 160,000 157,000 $ 102,500 $ 97,000 Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation-Office equipment Administrative salaries Total fixed costs Income Prepare a flexible budget performance report for July at activity level of 7,200 units. Show variances between budgeted and actual amounts. Note: 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 (7,200 units) Actual Results (7,200 units) Variances Favorable or Unfavorable

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