P24-2B Refer to Medix, Inc., of Problem 24-1B. The company sold 60,000 kits during August 20X3, and its actual operating income was as follows: Sales revenue. MEDIX, INC. Income Statement August 20X3 Variable expenses: Cost of goods sold. Sales commissions. Utilities expense $245,000 $ 66,500 21.000 6,000 Fixed expenses: Salary expense... 38,000 Depreciation expense. 24,000 Rent expense..... 10,500 Utilities expense 6,200 Total expenses. 172,200 Operating income. $ 72,800 Required 1. Prepare an income statement performance report for August 20X3. 2. What accounts for most of the difference between actual operating income and static budget operating income? 3. What is Medix's static budget variance? Explain why the income statement performance report provides Medix's managers with more useful information than the simple static budget variance. What insights can Medix's managers draw from this performance report?