P10-43A Prepare a budget with different volumes for planning (Learning Objective 5) Outrageous Bubbles, Inc., produces multicolored bubble solution used for weddings and other events. The company's master budget income statement for March follows. It is based on expected sales volume of 55,000 bubble kits. OUTRAGEOUS BUBBLES, INC. Master Budget Income Statement Month Ended March 31 Sales revenue. Variable penses: Cost of goods sold. Sales commissions....... Utility expense Fixed expenses: Salary expense... Depreciation expense Rent expense. Utility expense Total expenses.. Operating income.. $170,500 $ 68,750 13,750 5,500 30,000 20,000 15,000 7,000 $160,000 $ 10,500 Outrageous Bubbles' plant capacity is 62,500 kits. If actual volume exceeds 62,500 kits, Show All >