1. Analyze a mixed cost using the high-low method. 2. Prepare an income statement for a merchandising company using the contribution format. High-Low Method; Contribution Format Income Statement - Excel FILE HOME INSERT PAGE LAYOUT Calibri 11 AA Paste BIU T Clipboard Font C35 fx A FORMULAS DATA % ? REVIEW VIEW Sign M Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles- Styles 3 Budgeted information for Quarter 1 of Year 3: 4 Sales in units 5 Sales price per unit 6 B C D E 17,000 $ 48.00 7 After analyzing expenses, the company has determined the following cost patterns. 8 Variable Cost of Goods Sold (per unit) $ 29.00 9 Sales Commissions (per dollar of sales) 9.50% 10 11 Fixed Manufacturing Overhead (per quarter) $ 45,000.00 12 Administrative Salaries (per quarter) 13 Depreciation Expense (per quarter) 14 15 Shipping Cost has been determined to be mixed with the following costs for the past two years: SS 27,000.00 $ 36,000.00 16 17 Year 1 Total Cost Units 18 Quarter 1 $ 67,000.00 12,500 19 Quarter2 $ 94,000.00 21,000 20 Quarter 3 S 89,800.00 13,800 21 Quarter 4 $ 92,600.00 20,000 22 Year 2 23 Quarter 1 $ 72,500.00 13,700 24 Quarter2 $ 80,000.00 14,000 25 Quarter 3 S 84,000.00 14,300 26 Quarter 4 $ 100,000.00 22,500 Sheet1 READY Attempt(s) 3/3 100%