Blowing Bubbles, Inc., produces multicolored bubble solution used for weddings and other events. Requirements (Click the icon to view the master budget income statement.) 1. Prepare flexible budget income statements for the company, showing output levels of 65,000,70,000, and 75,000 kits. Blowing Bubbles' plant capacity is 72,500 kits. If actual volume exceeds 72,500kits, the company must expand the plant. In that case, 2. Graph the behavior of the company's total costs. Use total costs on the y-axis and volume (in thousands of bubble kits) on the salaries will increase by 10%, depreciation by 15%, and rent by $4,000. Fixed utilities will be unchanged by any volume increase 3. Why might Blowing Bubbles' managers want to see the graph you prepared in Requirement 2 as well as the columnar format analysis in Requirement 1 ? What is the disadvantage of the graphic approach? Data table The company's master budget income statement for July follows. It is based on expected sales volume of 65,000 bubble kits