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Required information [The following information applies to the questions displayed below.] Phoenix Company reports the following fixed budget, It is based on an expected production and sales volume of 15,500 units. Required: 182. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold. Phoenix Company reports the following actual results. Actual sales were 18,500 units. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance" and enter " 0 " for zero variance