Data Table 1 iat NetTech Technologies Income Statement For the Month Ended July 31, 2018 Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income $ 238,000 131,100 106,900 58,000 $48,900 Print Done NetTech Technologies Flexible Budget For the Month Ended July 31, 2018 Budget Amount per Unit Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income 7,000 8,500 10,500 22 S 154,000 $ 187,000 S 231,000 126,000 105,000 57,000 S 13,000 S 28,000 S48,000 84,000 70,000 57,000 102,000 85,000 57,000 12 PrintDone 1 Requirements Prepare a flexible budget performance report for July What was the effect on NetTech's operating income of selling 2,000 units more than the static budget level of sales? What is NetTech's static budget variance for operating income? Explain why the flexible budget performance report provides more useful information to NetTech's managers than the simple static budget variance What insights can NetTech's managers draw from this performance report? 1. 2. 3. 4. PrintDone NetTech Technologies Flexible Budget Performance Report For the Month Ended July 31, 2018 Budget Amounts Per Unit Flexible Budget Variance Sales Volume Variance Actual Flexible Static Results Budget Budget Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income oi 8500 u etTech Technolagies manufactures capcerfor celular base stations and other communications applications. The company's Jly 2018 flexible budget thows output levels o 7,000, 8,500, and 10,500 unts. The static budgetwas based on expected sales of8,500 unis. The company sald 10,500 units during July. Its fextle udgel and ectusl operaing income was as follows. compuny sold 10 (Click