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: Sales in units Sales Morrisey & Brown, Limited Income Statements For the Three Months Ended September 30 eBook Cost of goods sold Print References Gross margin Selling and administrative expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total selling and administrative expenses Net operating income Required: July 7,500 August $ 712,500 427,500 8,000 $760,000 September 8,500 $ 807,500 456,000 484,500 285,000 304,000 323,000 39,600 39,600 39,600 81,000 85,800 90,600 135,000 142,400 149,800 6,100 19,300 281,000 6,100 6,100 19,300 293,200 19,300 305,400 $ 4,000 $ 10,800 $ 17,600 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 8,500-unit level of activity using the contribution format Complete this question by entering your answers in the tabs below. Me Grow Hill Required 1 Required 2 Required 31 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. Expenses Cost of goods sold Advertising expense Shipping expense Classification < Prev 10 of 10 Next