Milden Company is a distributor who wants to start using a contribution format income statement for planning purposes. The company has analyzed its expenses and developed the following cost formulas: Cost Cost Formula Cost of good sold $24 per unit sota Advertising expense $174,000 per quarter Sales commissions 84 of sales Shipping expense ? Administrative salaries $84,800 per quarter Insurance expense $9,400 per quarter Depreciation expense $54,000 per quarter Because shipping expense is a mixed cost, the company needs to estimate the variable shipping expense per unit sold and the fixed shipping expense per quarter using the following date: Shipping Quarter Units Sold Expense Year 1: First 20,000 $164,000 Second 22,000 $ 179,000 Third 27,000 $221,000 Fourth 23,080 $ 184,000 Year 2: First 21,000 $ 174,000 Second 24,000 $ 189,000 Third 38,000 $ 235,808 Fourth 35,000 $ 212,000 Required: 1. Using the high-low method, estimate a cost formula for shipping expense in the form Ya.X 2. In the first quarter of Year 3, the company plans to sell 29.000 units at a selling price of $54 per unit. Prepare a contribution format income statement for the quarter. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the high-low method, estimate a cost formula for shipping expense in the form Y = a + bx. (Round the Variable cost per unit to 2 decimal places.) Y= Check my In the first quarter of Year 3, the company plans to sell 29,000 units at a selling price of $54 per unit. Prepare a contribution format income statement for the quarter. Milden Company Budgeted Contribution Format Income Statement For the First Quarter, Year 3 Variable expenses Total variable expenses Fixed expenses Total fixed expenses