2.

1. Analyze a mixed cost using the high-low method 2. Prepare income statement for a merchandising company using the contribution format. High-Low Method; Contribution Format Income Statement- Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATAREVIEW VIEW Sign In Alignment Number Conditional Format as Cell Cells Editing Paste Clipboard H2 FormattingTable Styles- Font Styles To aid in planning, Jay Corporation is preparing a contribution format income statement 3 Budgeted information for Quarter 1 of Year3 4 Sales in units 5 Sales price per unit 17,000 48.00 7 After analyzing expenses, the company has determined the following cost patterns. 8 Cost of goods sold 9Sales commissions 10 11 Administrative salaries 12 Rent expense 13 Depreciation expense 14 29.00 per unit 9.50% per dollar of sales 45,000.00 per quarter 27,000.00 per quarte 36,000.00 per quarter 1s Management has concluded that shipping expense is a mixed cost. Units shipped and the related shipping cost over the last eight quarters are: 16 17 Year 1 18 Quarter 1 19 Quarter2 20 Quarter 3 21 Quarter 4 22 Year 2 23 Quarter 1 24 Quarter2 25 Quarter 3 26 Quarter 4 27 28 Use the data to answer the following 29 30 1. Using the high-low method, determine a cost formula for shipping expenses 31 Total Shippin 67,000.00 94,000.00 89,800.00 92,600.00 12,500 21,000 13,800 20,000 72,500.00 80,000.00 84,000.00 $100,000.00 13,700 14,000 14,300 22,500 Sheet1 1096 Attempt(s)