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 a. The cost of goods sold for this company is a variable cost and is $56 per unit. The Shipping Expense and the Salaries and Commissions Expense are mixed. All other expenses are constant for each of the months shown and are therefore fixed. 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. Show calculation for High-Low method here
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