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Morrisey \& Brown, Limited, of Sydney is a merchandising company that is the sole distributor...

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Accounting

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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: 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, flixed, 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 5,500-unit level of activity using the contribution format

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