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 September 6,250 750,000 450,000 300,000 Morrisey Brown, Limited Income Statements For the Three Months Ended September 30 JulyAugust Sales in units 5,2505,750 Sales 630,000 690,000 Cost of goods sold378,000414,000 Gross margin252,000276,000 Selling and administrative expenses Advertising expense 30,600 30,600 Shipping expense 46,50049,500 Salaries and commissions 93,000 99,500 Insurance expense 10,20010,200 Depreciation expense 21,300 21,300 Total selling and administrative expenses 201,600211,100 Net operating income 50,400 64,900 30,600 52,500 106,000 10,200 21,300 220,600 79,400 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 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 6,250 -unit level of activity using the contribution format

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: 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 6,250-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 (induding cost of goods sold) as either variable, fixed, or muxed. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expenset in the form y=y+bx. (Aeund the Yariable cont per unit to 2 decimal places:) Redo the company's income statement at the 6,250-unit level of activity using the contribution format