please answer with CORRECT FORMULAS :) not just numbers! thanks

1. Analyze a mixed cost using the high-low method. 2. Prepare an income statement for a merchandising company using the contribution format. . FILE HOME INSERT Calibri 11 High-Low Method; Contribution Format Income Statement - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in A % Alignment Number Conditional Format as Cell Cells Formatting Table Styles Styles fx Jay Corporation has decided to prepare contribution income statements for Paste BIU Clipboard Font A1 B D E F 1 Jay Corporation has decided to prepare contribution income statements for internal planning. 2 3 Budgeted information for Quarter 1 of Year 3: Sales in units Sales price per unit 4 17,000 48.00 5 $ 6 8 9 $ $ 7 After analyzing expenses, the company has determined the following cost patterns. Variable Cost of Goods Sold (per unit) 29.00 Sales Commissions (per dollar of sales) 9.50% 10 11 Fixed Manufacturing Overhead (per quarter) $ 45,000.00 12 Administrative Salaries (per quarter) 27,000.00 13 Depreciation Expense (per quarter) 36,000.00 14 15 Shipping Cost has been determined to be mixed with the following costs for the past two years: 16 17 Year Total Cost Units 18 Quarter 1 $ 67,000.00 12,500 19 Quarter2 $ 94,000.00 21,000 20 Quarter 3 S 89,800.00 13,800 21 Quarter 4 $ 92,600.00 20.000 - 5 FILE HOME INSERT i Calibri - 11 High-Low Method: Contribution Format Income Statement - Excel ? PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In A % Alignment Number Conditional Format as Cell Cells Formatting Table Styles Styles fax Jay Corporation has decided to prepare contribution income statements for Paste BIU Clipboard Font A1 V B D E F 22 Year 2 23 Quarter 1 $ 72,500.00 13,700 24 Quarter2 $ 80,000.00 14,000 25 Quarter 3 $ 84,000.00 14,300 26 Quarter 4 S 100,000.00 22,500 27 28 Use the data to answer the following. 29 30 1. Using the high-low method, determine a cost formula for shipping expenses. 31 32 Total Shipping Cost Units 33 High level of activity 34 Low level of activity 35 Change in activity 36 37 Variable shipping cost per unit 38 39 Fixed shipping cost: (Note: please use the highest activity point to compute the total fixed cost.) 40 Total shipping cost at high level of activity 41 Less: Variable shipping cost at high level of activity 42 Total fixed shipping cost 43 44 2. Prepare a contribution margin income statement for Quarter 1 of Year 3. Sheet1 READY per unit 45 100% ? - FILE HOME INSERT Calibri 11 iB Paste BIU - High-Low Method; Contribution Format Income Statement - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In A % Alignment Number Conditional Format as Cell Formatting" Table Styles Styles fix Jay Corporation has decided to prepare contribution income statements for B Cells Clipboard Font AI D E F 43 44 2. Prepare a contribution margin income statement for Quarter 1 of Year 3. 45 46 Jay Corporation 47 Budgeted Income Statement 48 For Year 3, Quarter 1 49 50 Sales 51 Variable expenses: 52 Cost of goods sold 53 Sales commissions 54 Shipping expense (Variable portion) 55 Total variable expenses 56 Contribution margin 57 Fixed expenses: 58 Fixed Manufacturing Overhead 59 Administrative Salaries 60 Shipping expense (Fixed portion) 61 Depreciation expense 62 Total fixed expenses 63 Net operating income 64 65 66 Sheet1 READY + 100%