Jay Corporation has provided data from a two-year period to ald in planning. The Controller has asked you to prepare a contribution format income statement. After analyzing expenses, the company has determined the following cost patterns. Shipping has been determined to be a mixed cost with the following total costs and units: Required: Use the data to answer the following. 1. Using the hight-low method, determine o cost formula for shipping costs: 2. Prepare a contribution margin income statement for Quarter 1 of 2024. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to retum to Connect Jay Corporation has decided to prepare contribution income statements for internal planning. After analyzing expenses, the company has determined the following cost patterns. 15 Shipping has been determined to be a mixed cost with the following total costs and units: 1. Using the high-low method, determine a cost formula for shipping costs. 2. Prepare a contribution margin income statement for Quarter 1 of 2024