questoion 3
Homework Help Save & Exit Check my Morrisey & Brown. Ltd., of Sydney is a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow t20 August 5,250 $ 603,750 362.250 241,500 September 5,750 5 661,250 396,25e 264, See Morrisey & Brown, itd. Income Statements For the Three Months Ended September 30 July Sales in units 4,750 Sales $546,250 Cost of goods sold 327,75e Gross margin 218.500 Selling and administrative expenses: Advertising expense 31,800 Shipping expense 35,500 Salaries and commissions 81.ee Insurance expense 6,550 Depreciation expense 18,000 Total selling and administrative expenses 172,850 Net operating Income $ 45,650 31,800 38,180 87,300 6,55e 18,000 181.750 559,750 31,800 40,700 93,6ee 6.550 18,eee 190,650 $ 73,850 Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Y = a +bX. Complete this question by entering your answers in the tabs below. Required 1 Required 2 By analyzing the data from the company's Income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. Saved Help vork Save C Insurance expense Depreciation expense Total selling and administrative expenses Net operating income 6,550 18.000 172.850 $ 45,650 6,550 18,000 181,750 $ 59,750 6,550 18,00 190,650 $ 73,850 Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Ya+bX Complete this question by entering your answers in the tabs below. Required 1 Required 2 By analyzing the data from the company's Income statements, classify each of its expenses (Including cost of goods sold) as either variable, fixed, or mixed. Expenses Classification Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Ringed Required 2 > Help Save & Exit Submit work Check my work Insurance expense Depreciation expense Total selling and administrative expenses Met operating Income 6.550 18,00 172,850 545,650 6.550 18.ee 181,75e 559,750 6,550 38.000 198,658 $ 73,850 Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed or mixed 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Y=a+bX Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the high-low method, separate each mixed expense Into variable and fixed elements. Express the variable and fixed portions of each mixed expense the form Ya+bX. (Round the variable cost per unit to 1 decimal place.) Fixed Cost Formula Variable Cost per unit X X per unit
