Network Technologies manufactures capacitors for celular base stations and other communications applications. The company's July 2024 fexble budget shows cutput ievels of 5.000, 6. . 600, and 8,500 units. The static budget was based on expected sales of 6,500 units. The company sold 8,500 units duting July, its flexble budget and actual operating income was as folloas: ) (Click the ieon to vew the texibie budget) (Click the icon ta view the income statement.) Data table Data table 3 output lavels of 5,000 porne was as foliown: Requirements 1. Prepare a flexible budget performance report for July. 2. What was the effect on Neswork's operating income of selling 2.000 units more than the static budget level of sales? 3. What is Network's static budgot variance for operating income? 4. Explain why the flexible budget performance repoct provides more useful informaton to Network's managers than the simple static budget variance. What insights can Notwork's managers draw from this performance report