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Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Required: 1. Prepare a traditional income statement for the quarter ended December 31 . 2. Prepare a contribution format income statement for the quarter ended December 31. 3. What was the contribution toward fixed expenses and profits for each snowboard sold during the quarter? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) 4. What would operating income be if only 2,300 snowboards were sold in a quarter? You can assume no change to fixed expenses will occur if sales decline to 2,300 snowboards. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Required information [The following information applies to the questions displayed below.] Travis Metals heats copper ingots to a high temperature by placing them in a large oven. The heated ingots are then run through a shaping machine that forms them into wire. Due to the length of time it takes the oven to heat up, it is never turned off. When the ingots are placed in the oven the temperature is raised to a higher level. Once they are done being heated the oven temperature is turned back down until a new batch of ingots is ready to be heated. The following information shows the ingots processed and the power costs over the past 10 months. Required: 2. Using the high-low method, estimate a cost formula for power costs, Express the formula in the form Y=a+bX. 3. Predict total power costs in a month when 166 ingots are processed. Colby Limited is a manufacturing company whose total factory overhead costs fluctuate somewhat from year to year, according to the number of machine-hours worked in its production facility. These costs at high and low levels of activity over recent years are given below: The factory overhead costs above consist of indirect materials, rent, and maintenance. The company has analyzed these costs at the 74,700 machine-hours level of activity as follows: For planning purposes, the company wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the factory overhead cost of $34,008,300 a 1 the high level of activity consists of maintenance cost. Required: 1. Estimate how much of the factory overhead cost of $34,008,300 at the high level of activity consists of maintenance cost, 2. Using the high-low method, estimate a cost formula for maintenance. 3. What total overhead costs would you expect the company to incur at an operating level of 79,700 machine-hours