company sold 9,500 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.) Requirement 1. Prepare a flexible budget performance report for July. (Enter a " 0 " for any zero balances. For any $0 variancos loavo tho Eavarablo /F) Requirements 1. Prepare a flexible budget performance report for July. 2. What was the effect on Cell One's operating income of selling 2,000 units more than the static budget level of sales? 3. What is Cell One's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to Cell One's managers than the simple static budget variance. What insights can Cell One's managers draw from this performance report