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 of good sold Advertising expense Sales comissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $29 per unit nola $179,000 per quarter 88 of salen 7 $89,000 per quarter $9.900 per quarter $59,000 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 data: Unita told Shipping Expense Quarter Year 11 Tirat Second Third Tourth Year 22 Pirat second Third Fourth 25,000 27,000 32.000 20,000 $ 169,000 $184,000 $ 226.000 $189,000 26,000 29,000 37,000 54,000 $ 179,000 $ 194,000 $ 241,000 217,000 Required: 1. Using the high-low method, estimate a cost formula for shipping expense in the form Y-abx 2. In the first quarter of Year 3, the company plans to sell 33,000 units at a selling price of $59 per unit. Prepare a contribution format Required 1 Required 2 Using the high-low method, estimate a cost formula for shipping expense in the form Y-3 + bx. (Round the Variable cont per unit to 2 decimal places) Milden Company Budgeted Contribution Format Income Statement For the First Quarter, Year 3 Variable expenses: Total variable expensest Fixed expenses: Total fixed expenses