\begin{tabular}{|l|c|r|} \hline & \multicolumn{1}{|c|}{ A } & \multicolumn{1}{c|}{ B } \\ \hline 1 & \multicolumn{1}{|c|}{ YXZ Corporation has decided to prepare contribution incom } \\ \hline 2 & & \\ \hline 3 & Budgeted information for Quarter 1 of 2023: & \\ \hline 4 & Sales in units & 37,500 \\ \cline { 2 - 3 } & Sales price per unit & $37.00 \\ \hline \end{tabular} After analyzing expenses, the company has determined the following cost pattems. \begin{tabular}{|l|r|} \hline Cost of Goods Sold (per unit) & $29.00 \\ \hline Sales Commissions (per dollar of sales) & 4.50% \\ \hline Administrative Salaries (per quarter) & $82,500 \\ \hline Leasing Expense (per quarter) & $60,000 \\ \hline Taxes (per quarter) & $22,500 \\ \hline \end{tabular} Packing has been determined to be a mixed cost with the following total costs and units: \begin{tabular}{|ll|r|r|} 16 & 2021 & \multicolumn{1}{|c|}{ Iotal Cost } & \multicolumn{1}{c|}{ Units } \\ \cline { 2 - 4 } 17 & Quarter 1 & $62,250 & 18,000 \\ & Quarter2 & $102,000 & 31,500 \\ \cline { 2 - 4 } & Quarter 3 & $78,000 & 20,700 \\ \cline { 2 - 5 } 20 & Quarter 4 & $108,000 & 30,000 \\ \hline 21 & 2022 & & \\ \hline 22 & Quarter 1 & $79,500 & 20,550 \\ \hline 23 & Quarter2 & $63,000 & 21,000 \\ \hline 24 & Quarter 3 & $63,750 & 21,450 \\ \hline \end{tabular} Use the data to answer the following. 1. Using the high-low method, determine a cost fomula for packing costs. 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