Integrated Excel: Preparing a Contribution Format Income Statement Using the High$-$Low Method

Jay Corporation has provided data from a two$-$year period to aid in planning. The Controller has asked you to prepare a contribution format income statement.

Budgeted information for Quarter $1$ of $2024$ :

$\backslash$table$[[$Sales in units,$17,000],[$Sales price per unit $,$$$48\mathrm{.}00,]]$

After analyzing expenses, the company has determined the following cost patterns.

$\backslash$table$[[$Cost of Goods Sold $($per unit$),$$$29\mathrm{.}00$