Morrisey & Brown, Limited, of Sydney is a merchandising company that is the sole distributor of a product that is increa

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Morrisey Brown Limited Of Sydney Is A Merchandising Company That Is The Sole Distributor Of A Product That Is Increa 1 (35.62 KiB) Viewed 9 times

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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: Morrisey & Brown, Limited Income Statements. For the Three Months Ended September 30 Sales in units Sales Cost of goods sold Gross margin Selling and administrative, expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total selling and administrative expenses Net operating income July 5,250 $630,000 378,000 252,000 30,600 46,500 93,000 10,200 21,300 201,600 $ 50,400 August 5,750 $ 690,000 414,000 276,000 30,600 49,500 99,500 10,200 21,300 211,100 $ 64,900 September 6,250 $ 750,000. 450,000 300,000 30,600 52,500 106,000 10,200 21,300 220,600 $ 79,400 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 Ya+bX. 3. Redo the company's income statement at the 6,250-unit level of activity using the contribution format.

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 6,250-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 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. Expenses Cost of goods sold Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Classification Required 1 Required 2 >

Complete this question by entering your answers in the tabs below. Required 11 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.) Fixed Cost Variable Cost per unit per unit < Required 1 Y= Required 3 > Formula

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Redo the company's income statement at the 6,250-unit level of activity using the contribution format. Morrisey & Brown, Limited Income Statement - For the Month Ended September 30 Variable expenses: Fixed expenses: