please help with creating the formulas to input into excel to solve this

High-Low Method: Contribution Format Income Statement 1. Analyze a mixed cost using the high-low method. 2. Prepare an income statement for a merchandising company using the contribution format A1 Lo Jay Corporation has decided to prepare contribution income statements for > B D C 4 E F 4 8 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 17,000 5 Sales price per unit $ 48.00 6 7. After analyzing expenses, the company has determined the following cost patterns. Variable Cost of Goods Sold (per unit) $ 29.00 9 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 1 Total Cost Units 18 Quarter 1 $ 67,000.00 12,500 19 Quarter2 $ 94,000.00 21,000 ANA 4A 16 17 Year 1 18 Units 12,500 21,000 13,800 20,000 13,700 14,000 14,300 22,500 Total Cost Quarter 1 $ 67,000.00 19 Quarter 2 $ 94,000.00 20 Quarter 3 $ 89,800.00 21 Quarter 4 $ 92,600.00 22 Year 2 23 Quarter 1 $ 72,500.00 24 Quarter 2 $ 80,000.00 25 Quarter 3 $ 84,000.00 26 Quarter 4 $ 100,000.00 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 33 High level of activity 34 Low level of activity 35 Change in activity 36 Sheet1 Units 4 VEUT LUVLY 34 Low level of activity 35 Change in activity 36 37 Variable shipping cost per unit 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. 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 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 53 Net operating income 54