Oriole Company has four operating divisions. During the first quarter of 2022, the company reported aggregate income from operations of $208,400 and the following divisional results. Division || ||| IV Sales $245,000 $198,000 $501,000 $450,000 Cost of goods sold 203,000 189,000 297,000 254,000 Selling and administrative expenses 74,600 60,000 62,000 46,000 Income (loss) from operations $(32,600) $(51,000) $142,000 $150,000 Analysis reveals the following percentages of variable costs in each division. IV Cost of goods sold 66 % 88 % 78 % 73 % Selling and administrative expenses 40 58 48 57