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England Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2 expected sales of 6,500 units. The company sold 8,500 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.) Read the requirements Requirement 1. Prepare a flexible budget performance report for July (Enter a "O" for any zero balances. For any so variances, leave t England Technologies Flexible Budget Performance Report For the Month Ended July 31, 2018 3 4 5 Budget Amounts (3) - (5) Sales (1)-(3) Flexible Budget Variance Actual Volume Flexible Budget Per Unit Results Static Budget Variance Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income Choose from any list or enter any number in the and other communications applications. The company's July 2018 flexible budget Shows Its flexible budget and actual operating income was as follows: view the income statement.) - Data Table inpu Enti 5 e Rep 31, 201 England Technologies Flexible Budget For the Month Ended July 31, 2018 Budget Amount per Unit Units FI 5,000 24 $ 120,000 $ 6,500 8,500 156,000 $ 204,000 71,500 93,500 Sales Revenue 11 55,000 Variable Expenses Contribution Margin 65,000 84,500 110,500 Fixed Expenses 53,000 12,000 $ 53,000 53,000 31,500 $ 57,500 $ Operating Income Print Done and then click Check Answer. Clear All MACBOOK Pro ications applications. The company's July 2018 flexible budget sh and actual operating income was as follows: statement.) zer A Data Table x b/Unfav England Technologies Income Statement (3) S Vol For the Month Ended July 31, 2018 Sales Revenue $ 211,000 98,600 Variable Expenses Contribution Margin 112,400 Fixed Expenses 54,500 57,900 Operating Income Var Print Done flexible budget and actual operating income was as follows: w the income statement.) or a "0" for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) ir X * Requirements - 1. Prepare a flexible budget performance report for July. 2. What was the effect on England's operating income of selling 2,000 units more than the static budget level of sales? 3. What is England's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to England's managers than the simple static budget variance. What insights can England's managers draw from this performance report? Print Done en click Check