207 7070 97.000 Question Une 94.000 1 7 1.453,000 520,760 $32,845 Sales Cast of goods sold Gross margin Seling expenses Administrative expenses Net income 1.500.000 537,000 963,000 210,000 80.000 673.000 Short Questi 11 204,000 80.000 648.848 Time et The company has no beginning or ending inventories Required: . Use the high-low method to determine the cost formula for the selling expenses, which are a mixed cost. When performing calculations round to the nearest centie $6.94222 $6.94) (5 marks) b. The company expects to sel 105,000 units next year. Prepare the budgeted income statement using the contribution format for this level of activity. No heading required. (1 marks) B 1 & Required: Use the high-low method to determine the cost formula for the selling expenses, which are a mixed cost. When performing calculations roundt to the nearest cent fie. $6.94222 = $6.94) (5 marks) b. The company expects to sell 105,000 units next year. Prepare the budgeted income statement using the contribution 207 7070 97.000 Question Une 94.000 1 7 1.453,000 520,760 $32,845 Sales Cast of goods sold Gross margin Seling expenses Administrative expenses Net income 1.500.000 537,000 963,000 210,000 80.000 673.000 Short Questi 11 204,000 80.000 648.848 Time et The company has no beginning or ending inventories Required: . Use the high-low method to determine the cost formula for the selling expenses, which are a mixed cost. When performing calculations round to the nearest centie $6.94222 $6.94) (5 marks) b. The company expects to sel 105,000 units next year. Prepare the budgeted income statement using the contribution format for this level of activity. No heading required. (1 marks) B 1 & Required: Use the high-low method to determine the cost formula for the selling expenses, which are a mixed cost. When performing calculations roundt to the nearest cent fie. $6.94222 = $6.94) (5 marks) b. The company expects to sell 105,000 units next year. Prepare the budgeted income statement using the contribution