\begin{tabular}{|l|c|r|} \hline & \multicolumn{1}{|c|}{ A } & B \\ \hline 1 & YXZ Corporation has decided to prepare contribution incom \\ \hline 2 & & \\ \hline 3 & Budgeted information for Quarter 1 of 2023: & 50,000 \\ \hline 4 & Sales in units & $37.00 \\ \hline 5 & Sales price per unit & \\ \hline 6 & & \end{tabular} 7 After analyzing expenses, the company has determined the following cost patterns. Packing has been determined to be a mixed cost with the following total costs and units: \begin{tabular}{|l|l|r|r|} \hline 16 & 2021 & \multicolumn{1}{l|}{ Iotal Cost } & \multicolumn{1}{l|}{ Units } \\ \hline 17 & Quarter 1 & $93,375 & 27,000 \\ \hline 18 & Quarter2 & $153,000 & 47,250 \\ \hline 19 & Quarter 3 & $117,000 & 31,050 \\ \hline 20 & Quarter 4 & $162,000 & 45,000 \\ \hline 21 & 2022 & & \\ \hline 22 & Quarter 1 & $119,250 & 30,825 \\ \hline 23 & Quarter2 & $94,500 & 31,500 \\ \hline 24 & Quarter 3 & $95,625 & 32,175 \\ \hline \end{tabular} Use the data to answer the following. 1. Using the high-low method, determine a cost formula for packing costs. \begin{tabular}{|l|l|l|l|} \hline 29 & & & \\ \hline 30 & & \\ \hline 31 & High level of activity & \\ \hline 32 & Low level of activity & \\ \hline 33 & Change in activity & \\ \hline 34 & & \\ \hline 35 & Variable cost per unit & \\ \hline 36 & & \\ \hline 37 & Fixed cost portion: & \\ \hline 38 & Total cost at high level of activity \\ \hline 39 & Less: Variable cost element & \\ \hline 40 & Total fixed cost & \\ \hline 41 & & \\ \hline \end{tabular} Provide the different elements of the cost equation. Use the high activity level and provide numbers (not the letters of the formula) 2. Prepare a contribution margin income statement for Quarter 1 of 2023