Required information Use the following information for the Problems below. (Algo) [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. Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 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. Complete this question by entering your answers in the tabs below. 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