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First if all on the Year 2 Quarter 4 Total Shipping Cost reads $100,000 and units for Year 2 Quarter 4 reads 22500.

1. Using the high-low method, determine a cost formula for shipping expenses.

2. Prepare a contribution format Income Statement for Quarter 1 of Year 3.

i will need step by step explanation plus answer thanks.

Etps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUn=hte YouTube Maps & App. 3A Saved Paste BIU Cells Alignment Number Conditional Format as Cell Formatting - Table - Styles - Clipboard Styles To aid in planning, Jay Corporation is preparing a contribution format income A im o E F . Sales in units Sales price per unit 17,000 48.00 5 s 6 B 9 7 After analyzing expenses, the company has determined the following cost patterns. Cost of goods sold S 29.00 per unit Sales commissions 9.5096 per dollar of sales 10 11 Administrative salaries s 45,000.00 per quarter Rent expense 5 27,000.00 per quarter Depreciation expense s 35,000.00 per quarter 12 19 14 15 Management has concluded that shipping expense is a mixed cost Units shipped and the related shipping cost over the last eight quarters are 13 Units 12 Year 1 18 Quarter 1 19 Quarter 2 20 Quarter 3 ZIA Quarter 4 1 Year 2 Quarter Quarter 5 Quarter B LEN Total Shipping Cost $ 57,000.00 5 94 000.00 S $9,500.00 92.500.00 12,500 21,000 13 800 20,000 72 500.00 30 000.00 34.000.00 Hann 13.700 14 000 - 300 SO Sheet1 READY 1+ 100 Attempt(s) Ch. 3 & App. 3A i Saved Paste BIU- - A - Alignment Number Conditional Format as Cell Formatting Table- Styles Styles Cells Clipboard Font A1 To aid in planning, Jay Corporation is preparing a contribution format income A D E F ces mu B 20 Quarter 3 S 89,800.00 13,800 21 Quarter 4 S 92,600.00 20,000 22 Year 2 23 Quarter 1 72,500.00 13,700 24 Quarter2 80,000.00 14,000 25 Quarter S 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 2. Using the high-low method, determine a cost formula for shipping expenses. 91 32 Total Shipping Cost Unita 33 High level of activity 3 Low eve of activity 55 Change in activity 37 Variable cost Der unit 39 Compute the fixed cost portion using the eve of CGMEX 40 Tote cost at han leve of activity Lessariable cose e ement 22 Total Fixed cost Sheet1 READY Attempt(s) TO re 104 Next here to search date Cells A. Alignment Number Conditional Format as Cell Formatting Table- Styles Styles Clipboard Font E65 M 1 > A B C 43 D E F 44 2. Prepare a contribution format income statement for Quarter 1 of Year 3. 45 Jay Corporation Budgeted Contribution Format Income Statement For Year 3, Quarter 46 417 48 49 $ 815,000.00 5 493,000.00 2.520.00 50 Sales ST Variable expenses SL Cost of goods sold Sales commissions SU Shipping expense 59 Tota variable expenses 56 contribution margin 57 filed expenses 55 Administrative salaries 59 Rent expense 50 Shipping expense 61 Depreciation expense 62 Total Fxed expenses 65 Net operating income 5142 165 T Sheeti