Questions 2 & 3 please?

5 Problem 5A-7 (Algo) Cost Behavior; High-Low Method: Contribution Format Income Statement [LO5-10] Morrisey & Brown, Limited, 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 Harrisey & Brown, Limited Incone Statements For the Three Months Ended September 30 Dok July August 6,250 September 6,250 Sales in units Sales 5,750 $.632,500 379.500 $ 687,500 Cost of goods sold $ 742,500 445,500 Gross margin 412,500 275,000 253,000 297,000 Selling and administrative expenses: Advertising expense 28,600 28,600 28,600 Shipping expense $7,500 60,900 64,300 Salaries and commissions 105,000 113,700 118,400 Insurance expense 7,700 7,700 Depreciation expense 7,700 24,500 253,500 24,600 24,600 223,408 Total selling and administrative expenses 243,600 Net operating income $ 29,400 $ 41,500 $ $1,400 Required: 1. By analyzing the data from the company's income statements, classify each of its expenses (including cost of goods sold) as either variable, fixed, or mixed. 2. Using the high-low method, separate each mixed expense into variable and fixed elements. Express the variable and fixed portions of each mixed expense in the form Y-a-bx 3. Redo the company's income statement at the 6.750-unit level of activity using the contribution format 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 each mixed expense in the form Y= a + bx. (Round the variable cost per unit to 1 decimal place.) Variable Cost Fixed Cost Formula Shipping expense Y= Palmas and commissions avansa YH per unit ner int