Enabled: 249 EXAM 2 FALL 2020 a Saved Assume a merchandising company provided the following income statements: May 5,000 $175,000 90,000 85,000 June July 4,800 5,500 $ 168,000 $192,500 86,400 99,000 81,600 93,500 0:58:30 Sales in units Sales Cost of goods sold Gross margin Selling and administrative expenses: Advertising Shipping Salaries and commissions Total selling and administrative expenses Net operating income 17,000 17,500 30,000 64,500 $ 20,500 17,000 16,800 29,600 63,400 $ 18, 200 17,000 19, 250 31,000 67,250 $ 26,250 Which of the expenses shown in the income statements is (are) behaving like a variable cost? Multiple Choice Diod Multiple Choice O Cost of goods sold Cost of goods sold and shipping O Cost of goods sold, shipping, and salaries and commissions Cost of goods sold and salaries and commissions