August 9,500 $ 997,500 598,500 399,000 September 10,000 $1,050,000 630,000 420,000 Morrisey & Brown, Ltd. Income Statements For the Three Months Ended September 30 July Sales in units 9,000 Sales $ 945,000 Cost of goods sold 567,000 Gross margin 378,000 Selling and administrative expenses: Advertising expense 30,800 Shipping expense 130,000 Salaries and commissions 165,000 Insurance expense 10,950 Depreciation expense 17,300 Total selling and administrative expenses 354,050 Net operating income $ 23,950 30,800 136,000 173,000 10,950 17,300 368,05 30,950 30,800 142,000 181,000 10,950 17,300 382,050 37,950 $ $ Required: 1-analysis IDE 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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. (Round the Variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost Formula Salaries and commissions expense per unit Y = + X Shipping expense $ 0.0 per unit $ 10,950 Y = $ 10,950 + $ 0.01 X