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. 3. Redo the company's income statement at the 7,250-unit level of activity using the contribution format Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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. (Round the Variable cost per unit to 1 decimal place.) Var le cost Fixed Cost Formula 20.000 S $ Shipping expense perun: 24 000 Salaries and commssons espense Required: 9 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: 1 points September 7,250 $761,250 456,750 304,500 Morrisey & Brown, Ltd. Income Statements For the Three Months Ended September 30 July August Sales in units 6,250 6,750 Sales $656,250 $708,750 Cost of goods sold 393,750 425,250 Gross margin 262,500 283,500 Selling and administrative expenses: Advertising expense 36,600 36,600 Shipping expense 162,500 66,300 Salaries and commissions W5,000 121,900 Insurance expense 9,100 9,100 Depreciation expense 16,900 16,900 Total selling and administrative 248, 100 250,800 expenses Net operating income $ 22,400 $ 32,700 36,600 70,100 128,800 9,100 16,900 261,500 $ 43,000 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. Maestha EL UPELEL=16 Illuille - Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (includir 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 variable and fixed portions of each mixed expense in the form Y = a + bx. 3. Redo the company's income statement at the 7,250-unit level of activity using the contribution forma x Answer is not complete. Complete this question by entering your answers in the tabs below