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 6,400 April May June 5,900 6,650 $819,200- $755,200 5851,200 6,500 5883,200 414,000 388,000 422,000 440,000 405,200 367,200 429,200 443,200 74,500 70,000 77,500 75,000 84,000 84,000 84,000 84,000 187,800 170,500 188,750 194,500 10,400 10,400 10,400 10,400 53,000 409,700 53,000 53,000 53,000 387,900 413,650 419,900 $ (4,500) $(20,700) $ 15,550 $ 23,300 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 Shipping Y = + X Y = X Salaries and commissions Y + X