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Having lots of trouble on this question, please answer entirely. Thanks in advance! September 5,250 $ 551,250 330, 750 220,500 Morrisey & Brown, Limited Income

Having lots of trouble on this question, please answer entirely. Thanks in advance!

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September 5,250 $ 551,250 330, 750 220,500 Morrisey & Brown, Limited Income Statements For the Three Months Ended September 30 July August Sales in units 4,250 4,750 Sales $ 446,250 $ 498,750 Cost of goods sold 267,750 299,250 Gross margin 178,500 199,500 Selling and administrative expenses: Advertising expense 24,000 24,000 Shipping expense 34,500 36,700 Salaries and commissions 79,000 85,100 Insurance expense 6,950 6,950 Depreciation expense 16,700 16,700 Total selling and administrative expenses 161, 150 169, 450 Net operating income $ 17,350 $ 30,050 24,000 38,900 91,200 6,950 16,700 177,750 $ 42,750 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. 3. Redo the company's income statement at the 5,250-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 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. (Round the Variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost Formula per unit Y = + X per unit Y = + Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Redo the company's income statement at the 5,250-unit level of activity using the contribution format. Morrisey & Brown, Limited Income Statement For the Month Ended September 30 Variable expenses: Fixed expenses:

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