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Gail Corporation prepared the following report for the first quarter of this year- Gail's...

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Accounting

Gail Corporation prepared the following report for the first quarter of this year-
Gail's controller, Leanne Green, studied the costs in detail, particularly focusing on cost behaviour. Her analysis revealed the following:
Fixed portion of the cost of goods sold for the quarter amounted to $1,042,000.
Of the selling expenses, 20% was variable with respect to the number of units.
All of the administrative expenses were fixed.
Required:
Express the cost of goods sold and the selling expenses in terms of cost equations. (Round the "Variable cost" to 2 decimal
Required:
Express the cost of goods sold and the selling expenses in terms of cost equations. (Round the "Variable cost" to 2 decimal
places.)
2 Redo the above income statement using a contribution margin approach. (Do not round intermediate calculations.)
2 Redo the above income statement using a contribution margin approach. (Do not round intermediate calculertions.)
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