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HORRISEY&BROMN, LTD. Income Statements For the Four Quarters Ending Decemnber 31 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales in units 4,700 4, 200 5,240 4,800 Sales revenue A$470, 000 A$420,880 A$524,000 A$480,000 252,880 314,480 168,000 209,680 Less: Cost of goods sold 282,888 188, 000 288,000 192,000 Gross margin Less: Operating expenses: Advertising expense Shipping expense Salaries and comissions Insurance expense Depreciation expense Total operating expenses 21, 200 34, 800 79,200 6, 200 15, 200 156,600 21,280 36, 800 78,480 6,280 15,200 157,800 21,280 40,960 90,880 6,200 15,200 21,200 36,760 86,160 6,200 15,200 165,520 174,440

HORRISEY&BROMN, LTD. Income Statements For the Four Quarters Ending Decemnber 31 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales in units 4,700 4, 200 5,240 4,800 Sales revenue A$470, 000 A$420,880 A$524,000 A$480,000 252,880 314,480 168,000 209,680 Less: Cost of goods sold 282,888 188, 000 288,000 192,000 Gross margin Less: Operating expenses: Advertising expense Shipping expense Salaries and comissions Insurance expense Depreciation expense Total operating expenses 21, 200 34, 800 79,200 6, 200 15, 200 156,600 21,280 36, 800 78,480 6,280 15,200 157,800 21,280 40,960 90,880 6,200 15,200 21,200 36,760 86,160 6,200 15,200 165,520 174,440

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter7: Variable Costing For Management analysis
Section: Chapter Questions
Problem 7E: The following data were adapted from a recent income statement of The Procter Gamble Company (PG):...
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plz solve the question 3 with explanation. I will give you upvote
1. Using high low method, separate each mixed expenses into variable and fixed elements. 2. high low method, state cost formula for each mixed expenses. 3. company Income statement Morrisey&Brown, Ltd, of Sydney, Australia, is a merchandising firm 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 HORRISEY&BROMN, LTD. Income Statements For the Four Quarters Ending Decenber 31 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales in units 4,700 4,200 5,240 4,800 Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total operating expenses A$470,000 A$420,800 A$524,000 A$480,000 314,400 209,680 282,000 188,000 252,000 288,000 192,000 168,000 21,200 34,800 79,200 6,200 15,200 156,600 21,280 36, 800 78,400 6,200 15,200 157,800 21, 200 40,960 90,880 6,200 15,200 174,440 21,200 36,760 86,160 6,200 15, 200 165,520 es Net income AS 31,480 AS 10,200 AS 35,169 AS 26,480 (Note: Morrisey & Brown, Ltd's Australian-formatted income statement has been recast into the format common in Canada. The Australian dollar is denoted by AS.)
Transcribed Image Text:1. Using high low method, separate each mixed expenses into variable and fixed elements. 2. high low method, state cost formula for each mixed expenses. 3. company Income statement Morrisey&Brown, Ltd, of Sydney, Australia, is a merchandising firm 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 HORRISEY&BROMN, LTD. Income Statements For the Four Quarters Ending Decenber 31 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales in units 4,700 4,200 5,240 4,800 Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses: Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense Total operating expenses A$470,000 A$420,800 A$524,000 A$480,000 314,400 209,680 282,000 188,000 252,000 288,000 192,000 168,000 21,200 34,800 79,200 6,200 15,200 156,600 21,280 36, 800 78,400 6,200 15,200 157,800 21, 200 40,960 90,880 6,200 15,200 174,440 21,200 36,760 86,160 6,200 15, 200 165,520 es Net income AS 31,480 AS 10,200 AS 35,169 AS 26,480 (Note: Morrisey & Brown, Ltd's Australian-formatted income statement has been recast into the format common in Canada. The Australian dollar is denoted by AS.)
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