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 15,500 units. Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1\&2. 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. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1\&2. 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. 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 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold