A Winnipeg merchandising company, Smith Company, has been primarily focusing on financial accounting and providing external financial reports. With recent changes in the economy, consumer spending, and merchandise inventory supply delays, the company has decided to include managerial accounting analysis in their operations. They hope this will be a way to provide the management team with better information to use when planning and operating their business. As current Cost Accounting students at Red River College Polytechnic, you have been assigned the task of initiating some of the managerial accounting calculations and analysis to start the company in the right direction. Using the 2021 4th quarter Income Statement, in Appendix A (also in excel format), provide the following analysis for the management team. Refer to the rubric for more specific details. 1. Provide a table listing the company's expense accounts and indicate whether they are variable, fixed, or mixed. 2. Convert the 4th quarter traditional income statement in Appendix A to a 4th quarter Contribution Margin Income Statement. 3. Provide cost-volume-profit analysis for the company using the 4th quarter overall total: a. Break-even in both units and sales dollars. b. What level of sales dollars are required to achieve $800,000 target profit in the 4th quarter? 4. Provide 5 recommendations for why the management team should incorporate managerial accounting into their day-to day business operations. Support your recommendation with the benefit it will provide. Appendix A Appendix A Appendix A also provided in an excel spreadsheet. A Winnipeg merchandising company, Smith Company, has been primarily focusing on financial accounting and providing external financial reports. With recent changes in the economy, consumer spending, and merchandise inventory supply delays, the company has decided to include managerial accounting analysis in their operations. They hope this will be a way to provide the management team with better information to use when planning and operating their business. As current Cost Accounting students at Red River College Polytechnic, you have been assigned the task of initiating some of the managerial accounting calculations and analysis to start the company in the right direction. Using the 2021 4th quarter Income Statement, in Appendix A (also in excel format), provide the following analysis for the management team. Refer to the rubric for more specific details. 1. Provide a table listing the company's expense accounts and indicate whether they are variable, fixed, or mixed. 2. Convert the 4th quarter traditional income statement in Appendix A to a 4th quarter Contribution Margin Income Statement. 3. Provide cost-volume-profit analysis for the company using the 4th quarter overall total: a. Break-even in both units and sales dollars. b. What level of sales dollars are required to achieve $800,000 target profit in the 4th quarter? 4. Provide 5 recommendations for why the management team should incorporate managerial accounting into their day-to day business operations. Support your recommendation with the benefit it will provide. Appendix A Appendix A Appendix A also provided in an excel spreadsheet