P10-568 Prepare and interpret a performance report (Learning Objective 2 2) Refer to the Popping Bubbles' data in P10-55B. The company sold 70,000 bubble kits during March and its actual operating income was as follows: POPPING BUBBLES, INC. Master Budget Income Statement Month Ended October 31 Sales revenue ............. $211,000 Variable expenses: Cost of goods sold . $ 84,500 Sales commissions . 15,500 Utility expense . 14,000 Fixed expenses: Salary expense........"; 35,100 Depreciation expense . 18,000 Rent expense . ......... 10,550 Utility expense 5,000 Total expenses .......... $182,650 Operating income...... $ 28,350