The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expenses for the last four months are given below. Central Valley Company Comparative Monthly Income Statements Sales in units Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Shipping expense Advertising expense Salaries & commissions Insurance expense Depreciation expense Total operating expenses Net income March 6,300 April May June $819,000 5,800 $754,000 417,000 389,500 6,550 $851,500 425,750 6,700 $871,000 439,000 402,000 364,500 425,750 432,000 74,400 69,400 77,650 77,500 83,000 83,000 83,000 83,000 189,600 172,800 190,300 193,500 10,300 10,300 10,300 10,300 52,000 52,000 52,000 52,000 409,300 387,500 413,250 416,300 $ (7,300) $(23,000) $ 12,500 $ 15,700 Required: 1. Management is concerned about the losses experienced during the spring and would like to know more about the cost behaviour. Develop a cost equation for each of the costs. COGS Y = + X Shipping Y = + X Salaries and commissions Y = + X