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please answer the whole question! Morrisey & Brown, Ltd., of Sydney, Australia, is a merchandising firm that is the sole distributor of a product that

please answer the whole question!
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Morrisey & Brown, Ltd., of Sydney, Australia, is a merchandising firm 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. MORRISEY & BROWN, LTD. Income Statements For the Four Quarters Ending December 31 Quarter 1 Quarter 2 Sales in units 4,800 4,300 Sales revenue A$ 480,000 $430,000 Less: Cost of goods sold 288,600 258,800 Gross margin 192,000 172,800 Less: Operating expenses Advertising expense 21,300 21,300 Shipping expense 35,200 37,200 Salaries and commissions 79,800 78,600 Insurance expense 6,300 6,300 Depreciation expense 15,300 15, 30 Total operating expenses 157,900 158,700 Net income A$ 34,188 A$ 13, 380 Quarter 3 5,368 A$ 536,000 321,680 214,480 Quarter 4 4,900 A$ 490,000 294,000 196,000 21,300 41,440 91,320 6,300 15,300 175,660 A$ 38,740 21,300 37,140 86,740 6,300 15, 300 166,780 A$ 29,220 (Note: Morrisey & Brown, Ltd.'s Australian-formatted income statement has been recast Into the format common in Canada. The Australian dollar is denoted by A$.) Required: 1. Identify each of the company's expenses (including cost of goods sold) as being variable, fixed, or mixed. Classification Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense 2-o. Using the high-low method, separate each mixed expense into variable and fixed elements. Variable Cost Fixed Cost A$ AS A$ por unit per unit per unit A$ AS AS 2-b. Using the high low method, state the cost formula for each mixed expense. YAS YAS YAS IAS IAS As 3. Redo the company's income statement at the 5,360 unit level of activity using the contribution format MORRISEY & BROWN, LTD Contribution Margin Income Statement For the Quarter Ended September 30 Sales in units AS Loss: Variable expenses AS 0 0 Less Fixed expenses 0 AS 0 4. Assume that the company's sales are projected to be 4,650 units in the next quarter. Prepare a contribution margin income statement MORRISEY & BROWN, LTD. Contribution Margin Projected Income Statement For the Quarter Ended March 31 Sales in units AS Less Variable expenses AS 0 0 Less Fixed expenses 0 AS

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