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Requirements 1. Prepare a flexible budget performance report for July. 2. What was the effect on England's operating income of selling 2,000 units more than the static budget level of sales? 3. What is England's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to England's managers than the simple static budget variance. What insights can England's managers draw from this performance report? Data table England Technologies manulactures capacitors for cellular base stations and other communications applications. The company's July 2024 fexible budget ahows output lovols of 7,000,8,500, and 10,500 units. The static budget was based on expected sales of 8.500 units. The company sold 10,500 units during July. Its kexible budget and actual operating income was as follows: (Cick the icon to viow the flowble tudget.) (Click the icon to view the income statement) Read the reguiroments