Requirement 1. Prepare flexible budget income statements for the company, showing output levels of 65,000, 70,000, and 75,000 kits. (Enter the per unit information to two decimal places.) Outrageous Bubbles, Inc. Flexible Budget Income Statement Month Ended October 31 Data Table Flexible Budget per Output Unit The company's master budget income statement for October follows. It is based on expected sales volume of 65,000 bubble kits Output Units (Kits) 70,000 Outrageous Bubbles, Inc Master Budget Income Statement Month Ended October 31 65,000 75,000 $ 2.90 188500 S203,000 217,500 Sales revenue Variable expenses S 188,500 Sales revenue 1.25 0.30 0.05 81,250 19,500 3,250 87,500 21,000 3,500 93,750 22,500 3,750 Cost of goods sold Sales commissions Utility expense Variable expenses $ 81,250 19,500 3,250 Cost of goods sold Sales commissions Utility expense Fixed expenses: 33,000 18,000 15,000 5,000 $ 175,000 S 183,000 13,500 20,000 33,000 18,000 15,000 5,000 Salary expense Depreciation expense Rent expense Utility expense Fixed expenses: 33,000 18,000 15,000 5,000 S 175,000 S 13,500 Salary expense Depreciation expense Rent expense Utility expense 5,000 Total expenses Operating income Total expenses Operating income Print Done