QUESTION 3 0 points Save Answe 2) The Central Valley Company is a merchandising firm that sells a single product. The company's revenues and expenses for the last three months are given below: Central Valley Company Comparative Income Statement For the Second Quarter April May June 6,000 Sales in units 4,500 5,250 $735,000 $840,000 $630,000 Sales Revenue 336,000 252,000 294,000 Less cost of goods sold $378,000 $441,000 $504,000 56,000 63,500 71,000 Gross Margin Less operating expense Shipping expense Advertising expense Salary & Commissions Insurance expense Depreciation expense Total expense 70,000 70,000 70,000 143,000 161,750 180,500 9,000 9,000 9,000 42,000 42,000 42,000 $320,000 $346,250 $372,500 180,500 Insurance expense 9,000 9,000 9,000 Depreciation expense 42,000 42,000 42,000 Total expense $320,000 $346,250 $372,500 $131,500 Net Income $58,000 $94,750 Required: a. Determine which expenses are mixed and, by use of the high-low method, separate each mixed expense into ts variable and fixed components. State the cost formula for each mixed expense. 5. Compute the company's total contribution margin for May. cincanlyn 1 sheet loose clear horldhod