Morrisey & Brown, Limited, of Sydney is a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: Morrisey Brown, Limited Income Statements For the Three Months Ended September 30 July Sales in units 8,000 August 8,500 September 9,000 Sales $840,000 Cost of goods sold 504,000 Gross margin 336,000 $ 892,500 535,500 357,000 $ 945,000 567,000 378,000 Selling and administrative expenses: Advertising expense 36,600 36,600 36,600 Shipping expense Salaries and commissions 95,000 100,200 145,000 152,600 105,400 160,200 Insurance expense 8,850 8,850 Depreciation expense 24,400 Total selling and administrative expenses 309,850 24,400 322,650 8,850 24,400 335,450 $ 26,150 $ 34,350 $ 42,550 Net operating income. Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Y=a+bX. 3. Redo the company's income statement at the 9,000-unit level of activity using the contribution format. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Ya+bX. (Round the Variable cost per unit to 2 decimal places.) Salaries and commissions 145,000 152,600 Insurance expense 8,850 8,8501 Depreciation expense 24,400 Total selling and administrative expenses 309,850 24,400 322,650 160,200 8,850 24,400 335,450 $26,150 $ 34,350 $42,550 Check my Net operating income Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Y=a+bX 3. Redo the company's income statement at the 9,000-unit level of activity using the contribution format. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Ya + bx. (Round the Variable cost per unit to 2 decimal places.) Variable Cost Fixed Cost per unit per unit Formula X X Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 31 Redo the company's income statement at the 9,000-unit level of activity using the contribution format. Variable expenses: Morrisey & Brown, Limited Income Statement For the Month Ended September 30 Fixed expenses: 0 0 0