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Mohit G answered on January 30, 2021 5 Ratings, (18 Votes)Jan 28 2021 05:56 AMMorrisey & Brown, Ltd., 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 rec...

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(Solved) - Morrisey & Brown, Ltd., of Sydney is a merchandising company.... - (1 Answer) | Transtutors

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Morrisey & Brown, Ltd., 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

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statements for the three most recent months follow:

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Required: 1. Identify each of the company’s expenses (including cost of goods sold) as either variable fixed, or mixed.

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2. Using the high-low method, separate each mixed expense into variable and fixed elements. State the cost formula for each mixed expense. 3. Redo the company’s income statement at the 5,000-unit level of activity using the contributionformat. Jan 28 2021 05:56 AM

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Mohit G answered on January 30, 2021

5 Ratings, (18 Votes)

Answer 1 Cost of goods sold Variable Advertising expense Fixed Shipping expense Mixed Salaries and h

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Cost at lowest level 34000 Change 4000 Variable Element = Change in Cost/Change in Units Variable Element = $ 4,000/1,000 = $ 4 per unit Fixed Element = Total Cost less Variable Element Fixed Element = $ 38,000 less 5,000 units * $ 4 per unit Fixed Element = $ 18,000 Salaries and commissions Highest level of units 5000 Lowest level of units 4000 Change 1000 Cost at highest level 90000 Cost at lowest level 78000 Change 12000 Variable Element = Change in Cost/Change in Units Variable Element = $ 12,000/1,000 = $ 12 per unit Fixed Element = Total Cost less Variable...

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Morrisey & Brown, Ltd, of Sydney, Australia, is a merchandising firm that is the sole distributor of a production that is increasing in popularity among Australian consumers. The company's income statements for the three most recent months... Posted 8 months ago

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