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NetTech Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2024 flexible budget shows output levels of 6,500,8,000, and 10,000 units. The static budget was based on expected sales of 8,000 units. The company sold 10,000 units during July. Its flexible budget and actual operating income was as follows: (Click the icon to view the flexible budget.) (Click the icon to view the income statement.) NetTech Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2024 flexible budget shows output levels of 6,500,8,000, and 10,000 units. The static budget was based on expected sales of 8,000 units. The company sold 10,000 units during July. Its flexible budget and actual operating income was as follows: n to view the income statement.) Data table Data table Requirements 1. Prepare a flexible budget performance report for July. 2. What was the effect on NetTech's operating income of selling 2,000 units more than the static budget level of sales? 3. What is NetTech's static budget variance for operating income? 4. 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? Requirement 1. Prepare a flexible budget performance report for July. (Enter a " 0 " for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank.) NetTech Technologies manufactures capacitors for cellular base stations and other communications applications. \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Flexible Budget Performance Report } \\ \hline \multicolumn{7}{|c|}{ For the Month Ended July 31, 2024} \\ \hline & & \multirow[t]{2}{*}{1} & 2 & \multirow[t]{2}{*}{3} & 4 & \multirow[t]{2}{*}{5} \\ \hline & & & (1)(3) & & (3)(5) & \\ \hline & Budget & & Flexible & & Sales & \\ \hline & Amounts & Actual & Budget & Flexible & Volume & Static \\ \hline & Per Unit & Results & Variance & Budget & Variance & Budget \\ \hline \multicolumn{7}{|l|}{ Units } \\ \hline \multicolumn{7}{|l|}{ Sales Revenue } \\ \hline \multicolumn{7}{|l|}{ Variable Expenses } \\ \hline \multicolumn{7}{|l|}{ Contribution Margin } \\ \hline \multicolumn{7}{|l|}{ Fixed Expenses } \\ \hline Operating Income & & & & & & \\ \hline \end{tabular} NetTech Technologies manufactures capacitors for cellular base stations and other communications applications