I wanted to add to the accepted answer with a suggested alternate way of achieving your goal.
Re-iterating the accepted answer...
Let's assume the following,
$status1 = 'A status';
$status = 'foo';
$i = 1;
$var_name = 'status1';
and then,
echo $status1; // A status
echo $status.$i; // foo1
echo ${'status'.$i}; // A status
echo ${"status$i"}; // A status
echo ${$var_name}; // A status
The string inside the curly brackets is resolved first, effectively resulting in ${'status1'} which is the same as $status1. This is a variable variable.
Read about variable variables - http://php.net/manual/en/language.variables.variable.php
An alternative solution
Multidimensional arrays are probably an easier way to manage your data.
For example, instead of somthing like
$values['status'.$i] = $newStatus[$i];
how about
$values['status'][$i] = $newStatus[$i];
Now we can use the data like,
extract($values);
if($status[$i] == 'OUT'){
// do stuff
}
An alternative solution PLUS
You may even find that you can prepare your status array differently. I'm assuming you're using some sort of loop? If so, these are both equivalent,
for ($i=0; $i<count($newStatus); $i++){
$values['status'][$i] = $newStatus[$i];
}
and,
$values['status'] = $newStatus;
:)