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Problem 5A-9 (Algo) High-Low Method; Contribution Format Income Statement [LO5-10] Milden Company is a distributor who wants to start using a contribution format income statement for planning purposes. The company has analyzed its expenses and developed the following cost formulas: Because shipping expense is a mixed cost, the company needs to estimate the variable shipping expense per unit sold and the fixed shipping expense per quarter using the following data: Required: 1. Using the high-low method, estimate a cost formula for shipping expense in the form Y=a+bX 2. In the first quarter of Year 3, the company plans to sell 37,000 units at a selling price of $61 per unit. Prepare a contribution format. income statement for the quarter. Required: 1. Using the high=low method, estimate a coct formula for shipping expense in the form =a+bX. 2. In the first quarter of Year 3 , the company plans to sell 37,000 units at a selling price of $61 per unit. Prepare a contribution form income statement for the quarter. Complete this question by entering your answers in the tabs below. Using the high-low method, estimate a cost formula for shipping expense in the form Y=a+bX. (Round the Variable cost per unit to 2 decimal places.) In the first quarter of Year 3, the company plans to sell 37,000 units at a selling price of $61 per unit. Prepare a contribution format income statement for the quarter