Nina Company prepared the following fixed budget for July using 7,880 units for budgeted sales. Actual...

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Nina Company prepared the following fixed budget for July using 7,880 units for budgeted sales. Actual sales were 7,580 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed Fixed Budget Actual Results For Month Ended July 31 per Unit $ 100 (7,880 units) $ 788,000 (7,580 units) $ 774,430 Cost Sales Variable costs Direct materials 35 275,800 118,200 31,520 86,680 512,200 $ 275,800 280,480 115,300 29,720 82,390 507,890 Direct labor 15 Indirect materials 4 Sales commissions 11 Total variable costs 65 Contribution margin $ 35 $ 266,540 Fixed costs $ 71,810 42,590 10,570 7,780 Depreciation–Machinery Supervisor salary 71,810 71,810 43,880 10,570 7,780 31,320 42,590 10,570 Insurance Depreciation–Office equipment Administrative salaries 7,780 33,900 33,900 Total fixed costs $ 166,650 166,650 165,360 $ 109,150 $ 101,180 Income Prepare a flexible budget performance report for July at activity level of 7,580 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 For Month Ended July 31 Budget (7,580 units) Results Variances Favorable/Unfavoral (7,580 units) Sales $ 756,000 $ 774,430 Variable costs Diroot motoriola NINA COMPANY Flexible Budget Performance Report Flexible Actual For Month Ended July 31 Favorable/Unfavora Budget (7,580 units) Results Variances (7,580 units) Sales 756,000 $ 774,430 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 prepared the following fixed budget for July using 7,880 units for budgeted sales. Actual sales were 7,580 units and actual costs are shown below. Fixed Budget Variable Amount Total Fixed Fixed Budget Actual Results For Month Ended July 31 per Unit $ 100 (7,880 units) $ 788,000 (7,580 units) $ 774,430 Cost Sales Variable costs Direct materials 35 275,800 118,200 31,520 86,680 512,200 $ 275,800 280,480 115,300 29,720 82,390 507,890 Direct labor 15 Indirect materials 4 Sales commissions 11 Total variable costs 65 Contribution margin $ 35 $ 266,540 Fixed costs $ 71,810 42,590 10,570 7,780 Depreciation–Machinery Supervisor salary 71,810 71,810 43,880 10,570 7,780 31,320 42,590 10,570 Insurance Depreciation–Office equipment Administrative salaries 7,780 33,900 33,900 Total fixed costs $ 166,650 166,650 165,360 $ 109,150 $ 101,180 Income Prepare a flexible budget performance report for July at activity level of 7,580 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 For Month Ended July 31 Budget (7,580 units) Results Variances Favorable/Unfavoral (7,580 units) Sales $ 756,000 $ 774,430 Variable costs Diroot motoriola NINA COMPANY Flexible Budget Performance Report Flexible Actual For Month Ended July 31 Favorable/Unfavora Budget (7,580 units) Results Variances (7,580 units) Sales 756,000 $ 774,430 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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Flexible Budget variable cost calculation Sales 7480100 748000 Variable cost Direct Material 7480... View the full answer