Analyze cost behaviour and prepare CVP income statement (LO 1,5) AN Ulu g 1,800 haircuts are given in a month. P20-2A Jewelz Boxz Inc. is a small company that manufactures oak jewellery boxes that are distributed through fine gift stores. The company's income statements for the last four months are shown below: June July August Sales in units September 240 205 255 295 Sales revenue $24,000 Cost of goods sold $20,500 $25,500 13,200 $29,500 11,275 Gross profit 14,025 16.225 10,800 Operating expense 9,225 11,475 13,275 Salaries and wages expense 2,960 Insurance expenses 2,820 200 3,020 3,180 Shipping expense 200 1,440 200 200 Office expenses 1,230 179 1,530 Total operating expenses 158 188 212 4,779 Income from operation 4,408 $ 6,021 4,938 5,362 $ 4,817 $ 6,537 $ 7913 1,770 Instructions (a) Identity each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixeu. (b) Calculate the cost per unit for each of the variable expenses. (c) Using the high-low method, determine the variable cost per unit and the fixed cost component for each of the mixed costs. (d) The manager expects to sell 320 jewellery boxes in October. Using the cost information determined above, prepare a CVP income statement up to income from operations for October (Show expense items individually.) TAKING IT FURTHER "The concept of relevant range has no application to fixed costs." Explain why you agree or disagree with this statement