Answered Essay: Morrisey & Brown, Ltd., of Sydney is a merchandising company that is the sole distr

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 statements for the three most recent months follow:
Morrisey & Brown, Ltd.
Income Statements
For the Three Months Ended September 30
July August September
  Sales in units 4,000 4,500 5,000
  Sales $400,000 $450,000 $500,000
  Cost of goods sold 240,000 270,000 300,000
  Gross margin 160,000 180,000 200,000
  Selling and administrative expenses:
       Advertising expense 21,000 21,000 21,000
       Shipping expense 34,000 36,000 38,000
       Salaries and commissions 78,000 84,000 90,000
       Insurance expense 6,000 6,000 6,000
       Depreciation expense 15,000 15,000 15,000
  Total selling and administrative expenses 154,000 162,000 170,000
  Net operating income $ 6,000 $ 18,000 $ 30,000

 

Required:
1. Identify each of the company’s 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. 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 contribution format.

 

Expert Answer

 

Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

HOW OUR ONLINE ESSAY WRITING SERVICE WORKS

Let us write that nagging essay.

STEP 1

Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.

STEP 2

Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.

STEP 3

Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.

STEP 4

Receive your Paper

After Editing, your paper will be sent to you via email.

× How can I help you?