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 LOP1 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. Prepare flexible budqets at sales volumes of 14,500 and 16,500 units. 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