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 15,400 units. Required: 1\&2. Prepare flexible budgets at sales volumes of 14,400 and 16,400 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgeted income statement if 18,400 units are sold. Prepare flexible budgets at sales volumes of 14,400 and 16,400 units. Required information The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgeted income statement if 18,400 units are sold