1. 

Click the icon to view the flexible budget.) (Click the icon to view the income statement.) Data table Read the requirements. Requirement 1. Prepare a flexible budget performance report for July. (Enter a "0" for any zero balances. For any $0 vari Data table Requirements 1. Prepare a flexible budget performance report for July. 2. What was the effect on Phone's operating income of selling 2,000 units more than the static budget level of sales? 3. What is Phone's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to Phone's managers than the simple static budget variance. What insights can Phone's managers draw from this performance report