Phone Tectinologies manufactures capacitors for cellular base stations and other communications applications The company's July 2024 flesible budget shows output levels of 7,500, 9,000, and 11,000 units. The static budget was based on expected sales of 9,000 units. The company sold 11,000 units during vully Its flexible budget and actual operating income was as follows Data table 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