Morrisey & Brown, Ltd., 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: Morricey & Brown, Ltd Income Statements For the Three Months Ended September 30 July August September Sales in units 9.000 9,500 10,000 Sales $ 945,000 $ 997.500 $1,es0,000 Cost of goods sold 567,000 598,500 630,000 Gross margin 378.000 399,000 420,000 Selling and administrative expenses: Advertising expense 30,800 30,800 30.800 Shipping expense 130.000 136,000 142,000 Salaries and commissions 165,000 173,000 181.000 Insurance expense 10.45 10,950 10,950 Depreciation expense 12,500 12,300 17,360 Total selling and administrative expenses 354,050 368,50 382,050 Net operating income $ 23,950 $ 30,950 $ 37.950 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 ved portions of each mixed expense in the form YHbX Required 1 Required 2 Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed the form Y = a + bx. (Round the Variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost Formula Shipping expense salaries and commissions expense per unit X Y- Y per unit + X