Sumpruun status QUESTIONS u points 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 Sales in units 4.500 5.250 6.000 Sales Revenue $630,000 $735,000 $840,000 Less cost of goods sold 252.000 294.000 336.000 Gross Margin $378,000 $441,000 $504,000 Less operating Question Completion Status: expense Shipping expense 56,000 63,500 71,000 Advertising expense 70,000 70,000 70,000 Salary & Commissions 143,000 161,750 180,500 Insurance expense 9,000 9,000 9,000 Depreciation expense 42.000 42.000 42.000 Total expense $320.000 $346.250 $372.500 Net Income $58.000 $94.750 $131.500 Required a Determine which expenses are mixed and, by use of the high-low method, separate each mixed expense into its variable and fixed components State the cost formula for each mixed expense b. Compute the company's total contribution margin for May