A C 0 1 Baker Corporation has decided to prepare contribution margin income statements for intemal...

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A C 0 1 Baker Corporation has decided to prepare contribution margin income statements for intemal olannine 3 Budgeted information for Quarter 1 of 2024 4Sales in units 5 Sales price per unit 6 37,500 37.00 7 After analyzing expenses, the company has determined the following cost pattems Cost of Goods Sold (per unit) $ 29.00 9Sales Commissions (per dollar of sales) 5.00% 10 Administrative Salaries (per quarter $ 82,500 13 Leasing Expense (per quarter $ 60,000 12 Taxes (per quarter $ 22,500 13 14 Packing has been determined to be a mixed cost with the following total costs and units 15 16 2022 17 Quarter 1 18 Quarter 2 19 Quarter 3 20 Quarter 4 21 2023 22 Quarter 1 23 Quarter 2 24 Quarter 3 25 26 Use the data to answer the following 27 Total Cost $ 62,250 18,000 102,250 34,000 78,000 20,700 108,000 30,000 79,500 20,550 63,000 21,000 63,750 21,450 28 1. Using the high-low method, determine a cost formula for packing cost 29 30 31 High level of activity Total Cost 32 Low level of activity 33 Change in activity 34 35 Variable cost per unit 36 37 Fixed cost portion: 38 Total cost at high level of activity 39 Less: Variable cost element 40 Total fixed cost Provide your cost equation here, using the high level of activity 2. Prepare a contribution margin income statement for Quarter of 2024 Baker Corporation Budgeted Income Statement Quarter 1, 2024 Sales Variable expenses Cost of goods sold 52 Sales commissions 53 Packing expense Total variable expenses $5 Contribution margin 56 Fixed expenses 57 Adminstrative salaes sing expense 19 Packing ope 60 Taxes Total faed pense 62 Net operating income Units F Yellow c Blue co A C 0 1 Baker Corporation has decided to prepare contribution margin income statements for intemal olannine 3 Budgeted information for Quarter 1 of 2024 4Sales in units 5 Sales price per unit 6 37,500 37.00 7 After analyzing expenses, the company has determined the following cost pattems Cost of Goods Sold (per unit) $ 29.00 9Sales Commissions (per dollar of sales) 5.00% 10 Administrative Salaries (per quarter $ 82,500 13 Leasing Expense (per quarter $ 60,000 12 Taxes (per quarter $ 22,500 13 14 Packing has been determined to be a mixed cost with the following total costs and units 15 16 2022 17 Quarter 1 18 Quarter 2 19 Quarter 3 20 Quarter 4 21 2023 22 Quarter 1 23 Quarter 2 24 Quarter 3 25 26 Use the data to answer the following 27 Total Cost $ 62,250 18,000 102,250 34,000 78,000 20,700 108,000 30,000 79,500 20,550 63,000 21,000 63,750 21,450 28 1. Using the high-low method, determine a cost formula for packing cost 29 30 31 High level of activity Total Cost 32 Low level of activity 33 Change in activity 34 35 Variable cost per unit 36 37 Fixed cost portion: 38 Total cost at high level of activity 39 Less: Variable cost element 40 Total fixed cost Provide your cost equation here, using the high level of activity 2. Prepare a contribution margin income statement for Quarter of 2024 Baker Corporation Budgeted Income Statement Quarter 1, 2024 Sales Variable expenses Cost of goods sold 52 Sales commissions 53 Packing expense Total variable expenses $5 Contribution margin 56 Fixed expenses 57 Adminstrative salaes sing expense 19 Packing ope 60 Taxes Total faed pense 62 Net operating income Units F Yellow c Blue co