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can someone help me with this managerial accounting practice problem Morrisey & Brown, Ltd., of Sydney is a merchandising company that is the sole distributor
can someone help me with this managerial accounting practice problem
Morrisey & Brown, Ltd., of Sydney is a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: Morrisey & Brown, Ltd. Income Statements For the Three Months Ended September 30 buly Sales in units 5,750 Sales $ 632,500 Cost of goods sold 379,500 Gross martin 253,000 Selling and administrative expenses Advertising expense 28,600 Shipping expense 57,500 Salaries and commissions 105,000 Insurance expense 7,700 Depreciation expense 24,600 Total selling and administrative expens 223,400 Net operating income $ 29,600 August 6,250 $ 687,500 412,500 275,000 September 6,750 $ 742,500 445,500 297,000 28,600 60,900 111,700 7,700 24,600 233,509 $ 41.500 28,600 64,300 118,400 7,700 24,600 243,600 $ 53,400 Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 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 YabX Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold as either variable, fixed, or mixed. 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 By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods soldf as either variable, fixed, or mixed. Classification Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 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 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 bx (Round the Variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost Formula per unit per unit Y Step by Step Solution
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