mySaskPol X D21 Homepage X Question 3 X Q Morrisey & X Chapter+2 x C Morrisey & X C Morrisey & X C PROBLEM X C Atlantic M. X + X G https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mhedu... A" Not syncing LO4-Cost Behaviour Assignment Saved Help Save & Exit Submit 3 Problem 6-4 Examining Cost Behaviour; High-Low Analysis; Contribution Margin Income Statement (LO1 - CC1, 3, 6; LO2 - CC9; LO3 - CC12) Morrisey & Brown, Lid., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that is increasing in 10 popularity among Australian consumers. The company's income statements for the three most recent months follow: points MORRISEY & BROWN, LTD. Income Statements For the Four Quarters Ending December 31 eBook Quarter 1 Quarter 2 Quarter 3 Quarter 4 6, 100 5, 600 6,920 6, 200 Print Sales in units Sales revenue A$610, 090 A$560, 000 4$692, 090 A$620, 000 References Less: Cost of goods sold 366, 006 336, 000 415, 200 372, 000 Gross margin 244, 090 224, 000 276, 800 248, 900 Less: Operating expenses: Advertising expense 22, 600 22, 600 22, 600 22, 600 Shipping expense 40, 400 42, 400 47 , 680 42, 080 Salaries and commissions 37, 600 81, 200 97, 040 94, 280 Insurance expense 7, 600 7, 600 7,600 7,600 Depreciation expense 16, 600 16, 606 16,606 16, 600 Total operating expenses 174, 806 170, 40 191, 526 183, 160 Net income A$ 69, 200 A$ 53, 600 A$ 85, 280 A$ 64, 840 (Note: Morrisey & Brown, Lid.'s Australian-formatted income statement has been recast into the format common in Canada. The Australian dollar is denoted by AS.) Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed. Mc Graw Hill