1. Prepare a flexible budget perfc.-mance report for July. 2. What was the effect on England's operating income of selling 2,000 units more than the static budget level of sales? 3. What is England's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to England's managers than the simple static budget variance. What insights can England's managers draw from this performance report? England Technologies Flexible Budget For the Month Ended July 31, 2024 Budget Amount per Unit Data table England Technologies magufactures capactors for colular base stations and oher communications applicabions. The company's July 2024 fexible budgot shows output levels of 6,500 , 8.000, and 10,000 units. The stabic budget was based on expected sales of 8,000 units. The company sold 10,000 units during they, its fleowble budget and actual operafing inceme was as follows: Iti. (Click the icon to vere the flexible budgei.) Click the icon to view the income statemunt) Read the feguirements. 1. Prepare a flexible budget performance report for July. 2. What was the effect on England's operating income of selling 2,000 units more than the static budget level of sales? 3. What is England's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to England's managers than the simple static budget variance. What insights can England's managers draw from this performance report? England Technologies Flexible Budget For the Month Ended July 31, 2024 Budget Amount per Unit Units Sales Revenue $20$130,000$160,000$200,000 Variable Expenses Contribution Margin Fixed Expenses Operating Income \begin{tabular}{rrrr} 11 & 71,500 & 88,000 & 110,000 \\ \cline { 2 - 4 } & 58,500 & 72,000 & 90,000 \\ & 51,000 & 51,000 & 51,000 \\ \hline$ & 7,500 & $ & 21,000 \\ \hline \hline \end{tabular} Done Data table Requirement 1. Prepare a flexible budget performance report for July. (Enter a "0" for any zero balances. For any $0 var England Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2024 flexible budget shows output levels of 6,500,8,000, and 10,000 units. The static budget was based on expected sales of 8,000 units. The company sold 10,000 units during July. Its flexible budget and actual operating income was as follows: (Click the icon to view the flexible budget.) (Click the icon to view the income statement.)