1 01:46:34 eBook Morrisey & Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: Sales in units Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense For the Four Quarters Ending December 31 Total operating expenses Net income MORRISEY & BROWN, LTD. Income Statements Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Saved Quarter 1 Quarter 2 Quarter 3 5,500 5,000 6,200 A$550,000 A$500,000 A$620,000 330,000 300,000 372,000 220,000 200,000 248,000 22,000 22,000 38,000 40,000 84,000 80,000 7,000 16,000 167,000 A$ 53,000 A$ 35,000 7,000 16,000 165,000 22,000 44,800 94,400 7,000 16,000 184, 200 A$ 63,800 Classification Quarter 4 5,600 A$560,000 336,000 224,000 (Note: Morrisey & Brown, Ltd.'s Australian-formatted income statement has been recast into the format common in Canada. The Australian dollar is denoted by A$.) 22,000 39,800 Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed. 90,800 7,000 16,000 175,600 A$ 48,400 Help Save & Exit

Morrisey \& Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statesents for the three most recent months follow. (Note Morrisey & Browr, (td. \& Austradan-formatted income slatement has been recast into the format common in Caradia. The Australian dollar is denoted by A s) Required: 1. ldentify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mined Morrisey \& Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statesents for the three most recent months follow. (Note Morrisey & Browr, (td. \& Austradan-formatted income slatement has been recast into the format common in Caradia. The Australian dollar is denoted by A s) Required: 1. ldentify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mined