Question four: Khaled is a manufacturing Corporation that produces and distributes a single product. The company's revenues and expenses for the last three months are given below: Khaled Corporation Traditional Format Income Statement For the Three Months Ended June 30, 2019 April May June Sales in units 3,000 3,750 4,500 Sales revenue JOD 420,000 JOD 525,000 JOD 630,000 Cost of goods sold 168,000 210,000 252,000 Gross margin 252,000 315,000 378,000 Selling & administrative expenses: Shipping expense 44,000 50,000 56,000 Fixed Advertising expense 70,000 70,000 70,000 Salaries & commissions 107,000 125,000 143,000 Fixed Insurance expense 9,000 9,000 9,000 Fixed Depreciation expense 42,000 42,000 42,000 Total Selling & Administrative 272,000 296,000 320,000 Net operating income (loss) JOD (20,000) JOD19,000 JOD 58,000 Required: Determine which expenses are mixed and, by use of the high-low method, separate each mixed expense into variable and fixed elements. (Use unit sales as the activity measure.) State the cost formula for each mixed expense.