Data table (Click the icon to view the actual income statement.) The company's flexible budget income statement for October follows: (Click the icon to view the flexible budget income statement.) Read the renuliraments appropriate column. Label each variance as favorable ( F ) or unfavorable (U). A variance of zero is considered favorable.) Flowing Bubbles, Inc. Income Statement Performance Report For the month ended October 31 lequirement 2. What accounts for most of the difference between actual operating income and master budget operating income? he for operating income is larger than the Most of the difference between master budget operating income and actual operating income esulted from bubble kits than expected. lequirement 3. What is Flowing Bubbles' master budget variance for operating income? Explain why the income statement performance report provides Flowing Bubbles' managers with more useful information than ne simple master budget variance. What insights can Flowing Bubbles' managers draw from this performance report? Flowing Bubbles' master budget variance for operating income is This means that operating income is than expected. 'hoose two reasons why the income statement performance report provides Flowing Bubbles' managers with more information than the simple master budget variance. hese variances suggest that the marketing department did a job by selling kits than expected, at a sale price than expected