Jay Corporation has provided data from a two-year period to aid 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 high-low method, determine a 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. Whenfinished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. Use cells A4 to C26 from the given information to complete this question. All answers should be input and displayed as positive values.) 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