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. 33.34 points eBook September August 8,500 $ 892,500 535,500 Print References Morrisey 5 Brown, Ltd. Income Statements For the Three Months Ended September 30 July Sales in units 8,000 Sales $ 840,000 Cost of goods sold 504,000 Cross margin 336,000 Selling and administrative expenses Advertising expense 36.600 Shipping expense 95,000 Salaries and commissions 145,000 Insurance expense Depreciation expense 24,400 Total selling and administrative expenses Net operating income $ 26,150 $ 945,000 567,000 378.000 36,600 100,200 152,600 8,850 24,400 322,650 36,600 105,400 160,200 24,400 JJ5.450 $ 42,550 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 Ya+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 Complete this question by entering your answers in the tabs below. ok nt Required 1 Required 2 Required 3 ances 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. Classification Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense 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 Y = a + bx. (Round the Variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost Formula per unit Y= X per unit X Y= Redo the company's income statement at the 9,000-unit level of activity using the contribution format. Morrisey & Brown, Ltd. Income Statement For the Month Ended September 30 Variable expenses: Fixed expenses: