managerial accounting

Part II. 15 points each-4 questions (Show your work:) 6 The Central Valley Company is a merchandising firm that sells a single product. The company's revenues and expenses for the last three months are given below: Central Valley Company Comparative Income Statement For the Second Quarter June April 4.500 5.250 6.00 May Sales revenue. Cost of goods sold.. Gross margin Selling and administrative expenses 252.000 294.000 336.000 378,000 441.000 504.000 Shipping expense. 56,000 63.500 71.000 70,000 70,000 70,000 ..143,000 161,750 180,500 9.000 9,000 9.000 42.000 42.000 42.000 Advertising expense.. Salaries and commissions Insurance expense.... Depreciation expense 372.500 Total selling and administrative expense.. 320,000 346.250 Net operating income a. Determine which expenses are mixed and, by use of the high-low method, separate each mixed expense into its variable and fixed components. State the cost formula for each mixed expense. b. Compute the company's total contribution margin for May