AllNet Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2018 flexible budget shows output levels of 5,000. 6,500, and 3.500 units. The static budget was based on expected sales of 6.500 units. The company sold 8.500 units during July. Its flexible budget and actual operating income was as follows: Requirement 1. Prepare a flexible budget performance report for July. (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)Unfavorable (U) input blank.) X Data table Data table AllNet Technologies Flexible Budget Performance Report For the Month Ended July 31, 2018 1 2 3 4 5 AllNet Technologies (1)-(3) Income Statement (3) - (5) 5 Sales Budget Flexible AllNet Technologies Flexible Budget For the Month Ended July 31, 2018 Budget Amount per Unit Amounts Actual Flexible Volume Static Budget Variance Per Unit Results Budget Variance Budget Units For the Month Ended July 31, 2018 Sales Revenue $ 211,000 115,600 Variable Expenses Contribution Margin 95,400 55,000 Fixed Expenses $ 40,400 Operating Income Units 6,500 8,500 Sales Revenue 5,000 24 $ 120,000 $ $ $ 156,000 $ 204,000 Variable Expenses Contribution Margin 13 65,000 84,500 110.500 Sales Revenue Variable Expenses Contribution Margin Fixed Expenses 55,000 71,500 93.500 Fixed Expenses 54.000 54,000 54,000 17,500 $ Operating Income $ 1.000 $ 39.500 Operating Income Print Done 1 Print Done Requirement 2. What was the effect on AllNet's operating income of selling 2,000 units more than the static budget level of sales? Selling 2,000 units more than the static budget level of sales AllNet's operating income by $ Requirement 3. What is AllNet's static budget variance for operating income? meaning that its operating income is than expected AllNet's static budget variance is $ per the static budget. Requirement Explain why the flexible budget performance report provides more useful information to AllNet's managers than the simple static budget variance. What insights can AllNet's managers draw from this performance report? Choose two reasons why the flexible budget performance report provides AllNet's managers with more information than the simple static budget variance. These variances suggest that the marketing department did job. They sold units than expected and sold them at a V price than expected