Hello, how do i find the high-low method/ estimated variable/fixed and shipping expenses. see attachment. Please show how you go the solution, so i can use in the future.

thanks

Alden Company has decided to use a contribution format income statement for internal planning purposes. The company has analyzed its expenses and has developed the following cost formulas: Cost Cost Formula Cost of goods sold $21 per unit sold Advertising expense $170,669 per quarter Sales commissions 5.22% of sales Administrative salaries $79,158 per quarter Shipping expense ? Depreciation expense $48,811 per quarter Management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. Units sold and the related shipping expense over the last eight quarters are given below: Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth Units Sold Shipping Expense 20,720 6,266 21,215 22,290 19,472 6,861 14,281 23,253 $262,640 $91,822 $270,641 $280,866 $248,861 $100,009 $191,513 $294,026 Management would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter. 1. Using the high-low method, estimate a cost formula for shipping expense. Total cost = variable cost per unit * units + fixed costs Units Expense "high" "low" Estimate of variable cost per unit Estimate of fixed cost 2. In the first quarter of Year 3, the company plans to sell the number of units listed below at the selling price listed below. Prepare a contribution format income statement for the quarter. Units 21,581 Sales price $59.00 Alden Company Budgeted Income Statement For the first quarter of Year 3 Sales Variable expenses: Cost of goods sold Shipping expenses $1,273,279 $453,201 $106,075