'he CV Company is a manufacturing rm that sells a single product. The company's revenues and xpcnses for the last two months are presented below using a traditional income statement (with bsorption costing): CV Company Comparative Income Statement May. Lune Sales in units $10.0. 03.0.0 Sales revenue $630,000 $840,000 Less: Cost of goods sold $2529.00 $105,000 Gross margin $378,000 $534,000 Less: Sellinngdmin expenses Shipping $ 45,000 8 60,000 Advertising . $ 79,000 $ 79,000 ~ Salaries and commissions $143,000 $180,500 Depreciation mace H.900 Total operating expenses E20911 ml Net operating income $49,000 1172.100 Required: :1. Assume, when applicable, the 'cost driver' for all costs is units of sales. Using the high-low method, determine the expenses that are mixed, and separate each mixed expense into its variable and xed components. State the cost formula for each mixed expense. b. Identify the xed costs and variable costs. c. For the upcoming month of July only, prepare a budgeted contribution margin income statement in good form using 'Variable Costing', and assuming that sales in units will be 8,000 units at the same sales price. Assume that production equals sales