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:

Required:

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.

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 $Y=a+bx.$

Redo the company's income statement at the $6,750-$unit level of activity using the contribution format.

Complete this question by entering your answers in the tabs below.

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.