Better Hurry
The following solution allows you to collect all of the Bonus Bubbles. If you can give up on the Bonus Bubbles, you don't need to follow all steps.
Start by quickly collecting the first two Krabby Patties and building a box at the red "X" using the two indicated boxes. As soon as there's only one row of wood boxes left, push the indicated wood box along the blue path to the blue "X" and return Patrick to position "A". Now push the steel box to the blue "X" (the wood box that was previously there should now be destroyed). The steel box is now guarding one wood box. Push the wood box onto the purple button, then the steel box to position "B".
Move to the top section of the level and use the three boxes along indicated paths to build a bridge to red button. Collect Patties and push the red button. Repeat at the green button. Do not collect the two Krabby Patties in purple circles yet. Instead, time the tentacle fire and push the steel box from position "B" onto the top blue button (green box), then follow the green path to collect all Bonus Bubbles and remaining Krabby Patties.