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need help with 1,2,3. thank you very much! PROBLEM 2-18 Cost Behavior; High-Low Method; Contribution Format Income Statement [L03, L04, LOS] Frankel Lid., a British
need help with 1,2,3. thank you very much! PROBLEM 2-18 Cost Behavior; High-Low Method; Contribution Format Income Statement [L03, L04, LOS] Frankel Lid., a British merchandising company, is the exclusive distributor of a product that is gaining rapid market acceptance. The company's revenues and expenses (in British pounds) for the last three months are given below: (Nole: Franker Lla: income statement has been recast in the functional format common in the United Stales. The Brtieh currency is the pound, denoted by r.) Required: 1. Identify each of the company's 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. State the cost formula for each mixed expense. 3. Redo the company's income statement arthe 4,500u it level of activity using the contribution format
need help with 1,2,3. thank you very much!
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