value: 20.000 points Problem 8-8 Performing a Comprehensive CVP Analysis (LO2- CC5, 9) The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expenses for the last four months are given below. Central Valley Company Comparative Income Statement March April May June 5,800 7,200 8,600 Sales in units 6,300 $713,000 $643,000 $781,000 $853,000 Sales revenue Less: Cost of goods sold 376,500 348,500 385,500 439,000 Gross margin $336,500 $294,500 $395,500 $414,000 Less: Operating Expenses Shipping expense 64,100 53,400 67,600 64,500 89,500 89,500 89,500 89,500 Advertising expense Salaries and 164,700 136,500 168,000 167,000 commissions Insurance expense 15,500 15,500 15,500 15,500 Amortization expense 48,500 48,500 48,500 48,500 Total operating $382,300 $343,400 $389,100 $385,000 expenses (45,800) (48,900) 6,400 29,000 Net income Required: 1. Management is concerned about the losses experienced during the spring and would like to know more about the cost behaviour. Develop a cost equation for each of the costs. per Cost of goods sold per Shipping Salaries & commission