6A-7 (Algo) Cost Behavior; High-Low Method; Contribution Format Income Statement [LO6-10] Morrisey & Brown, Limited, of Sydney is a merchandising company 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 Morrisey & Brown, Limited Income Statements For the Three Months Ended September 30 Sales in units Sales Cost of goods sold Gross margin Selling and administrative expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total selling and administrative expenses Net operating income Required: July 4,250 August 4,750 September 5,250 $ 446,250 267,750 $ 498,750 $ 551,250 299,250 178,500 199,500 330,750 220,500 24,000 24,000 24,000 34,500 36,700 38,900 79,000 85,100 91,200 6,950 6,950 6,950 16,700 16,700 16,700 161,150 169,450 177,750 $ 17,350 $ 30,050 $ 42,750 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold as either variable, fixed, or mixed, 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed potions Net operating income Required: $ 17,350 $ 30,050 $ 42,750 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Y = a + bx 3. Redo the company's income statement at the 5,250-unit level of activity using the contribution format. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Classification D Prev 10 of 10 Next Required 1 Required 2 Required 3 By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold either variable, fixed, or mixed. Expenses Classification Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Check my we Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense the form Y = a + bx. (Round the Variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost Formula per unit Y= per unit Y = + Redo the company's income statement at the 5,250-unit level of activity using the contribution format. Variable expenses: Morrisey & Brown, Limited Income Statement For the Month Ended September 30 Fixed expenses: Variable expenses: Fixed expenses