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Morrisey & Brown, Ltd., of Sydney is a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow Morrisey & Brown, Ltd. Income Statements For the Three Months Ended September 30 Sales in units: Sales 025304 Cost of goods sold. Book ences Gross margin Selling and administrative expenses: Advertising expense, Shipping expense Salaries and commissions Insurance expense Depreciation expense Total selling and administrative expenses Net operating income $656,250 393, 750 202,500 425, 250 July 6,250 August 6,750 $700,750 September 7,250 $761,250 456, 750 283,500 304, 500 36,600 36,600 35,000 62,500. 66,300 70,100 115,000 121,900 12,000 0,100 9,100 19.100 16,900 10.900 250,00 261,500 $ 32,700 $43,000 16,900 240, 100 $22,400 then you would leave the statement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of eac the form Y a + bx. (Round the Variable cost per unit to 1 decimal place.) Shipping expense Salaries and commissions expense Variable Cost Fixed Cost per unit Y= per unit Y= < Required 1 Required 3 > Formula X i Required 1 Required 2 Required 3 Saved Redo the company's income statement at the 7,250-unit level of activity using the contribution format. Morrisey & Brown, Ltd. Income Statement For the Month Ended September 30 Sales 16 Variable expenses: Cost of goods sold Shipping expense Salaries and commissions expense Fixed expenses: Advertising expense Insurance expense Depreciation expense Shipping expense Salaries and commissions expense 0 0 < Prev 2 of 2 Next

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