Check my work 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 5.62 saints August September Skloped 6,250 $6.7.500 412, see 275,00 $742.500 445,500 397,00 BOOK Morrisey & Brown Ltd. Income Statements For the Three Months Ended September 30 July Sales in units 5,750 Sales $632.500 Cost of goods sold 379, See Gross margin 253,209 Selling and administrative expenses: Advertising expense 28,600 Shipping expense 57.500 Salaries and commissions 125.000 Insurance expense 7,700 Depreciation expense 24.600 Total selling and administrative expenses Net Operating income $ 29,600 28,60 D 28, 60,00 7.709 24.00 233, 500 41,500 $ - Required: 1 analyzing the data from the company's income statements, classily each of its expenses (including cost of goods sold as either Check my Selling and administrative expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total selling and administrative expenses Net operating income 28,689 57,500 105,000 7,700 24,600 223,40 $ 29,600 28,600 60,900 111,700 7,700 24,600 233,500 28,600 64,300 118,400 7,700 24,600 243,660 $ 41,500 $ 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 Ya+bX 3. Redo the company's income statement at the 6,750-unit level of activity using the contribution format Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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. Classification Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Skipped 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 + DX (Round the variable cost per unit to 1 decimal place) Fixed Cost Formula ellook Variable Cost per unit per unit Print References Variable expenses 15.62 Skipped eBook Fred expenses
