[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 15,000 units. Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1\&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold