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The Valley Company is a merchandising firm that sells a single product. The company's revenues...

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Accounting

The Valley Company is a merchandising firm that sells a single product. The
company's revenues and expenses for the last three months are presented
below:
VALLEY COMPANY
Comparative Income Statement for the Second Quarter
Required:
a. Determine which expenses are mixed and, 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.
b. Compute the company's total contribution margin for May.
With explanation please.
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