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 contributio format income statement for the quarter. Complete this question by entering your answers in the tabs below. 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. Milden Company is a distributor who wants to start using a contribution tormat income statement tor planning purposes. I he 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: 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 ormat 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