Phone Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2018 flexible b 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.) Read the requirements. X i X * Requirements Data Table - Phone Technologies Income Statement 1. Prepare a flexible budget performance report for July. 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? For the Month Ended July 31, 2018 Sales Revenue $ 227,000 Variable Expenses 135,100 Contribution Margin 91,900 Fixed Expenses 59,500 32,400 Operating Income Print Done Variable Expenses Phone Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2018 flexible b 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.) Read the requirements. X i X * Requirements Data Table - Phone Technologies Income Statement 1. Prepare a flexible budget performance report for July. 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? For the Month Ended July 31, 2018 Sales Revenue $ 227,000 Variable Expenses 135,100 Contribution Margin 91,900 Fixed Expenses 59,500 32,400 Operating Income Print Done Variable Expenses