A. Calculate the missing amounts in MVP's Income Statement presented for financial reporting purposes below:
	MVP, Inc.
	Income Statement
	For the Year Ended December 31, 2020
	Sales		$ 375,000
	Cost of Goods Sold:
	Direct Materials (variable)	100,000
	Direct Labor (variable)	19,800
	Manufacturing Overhead ($40,000 is fixed)	89,750
	Cost of Goods Sold		209,550
	Gross Profit		165,450	=SUM(D8-D13)
	Operating Expenses:
	Sales Commissions (variable)	12,500
	Shipping (variable)	2,500
	Advertising (fixed)	9,900
	Billing (of which $10,000 is fixed)	10,250
	Sales and Administrative Salaries (fixed)	107,000
	Total Operating Expenses		142,150
	Operating Income (Loss)		$ 67,400	=SUM(D8-D14-D21)
Additional information:
	Sales Price per unit:	$15.00
Plant capacity (relevant range) is 60,000 units per year
All variable expenses in the company vary in terms of units sold
There was no change in inventory levels between the beginning and end of the year
B. Using the information above, calculate the missing amounts below:
	a. Units of product MVP sold in 2020:	60,000	n/a
Variable cost per unit for the following mixed costs:
	b. Variable Manufacturing Overhead per unit:	$ 1.50	=C12/C31
	c. Variable Billing per unit:	$ 132,300.04	=SUM(C10,C11,C16,C17/C31)
C. Using MVP's 2020 income statement above, prepare a contribution margin income statement below (all amounts should be a formula/link to the information provided above rounding per unit amounts to 2 decimal places):
		Total Units	Amount
		60,000	Per Unit	=C31
	Sales	$ 375,000		=D8
	Variable Costs:
	Direct Materials	100,000		=C10
	Direct Labor	19,800		=C11
	Variable Manufacturing Overhead			n/a
	Sales Commissions	12,500		=C16
	Shipping	2,500		=C17
	Variable Billing			n/a
	Total Variable Costs			n/a
	Contribution Margin			n/a
	Fixed Costs:
	Fixed Manufacturing Overhead	40,000		n/a
	Advertising	9,900		=C18
	Sales and Admin. Salaries	107,000		=C20
	Fixed Billing	10,000
	Total Fixed Costs	166,900		=SUM(C50:C53)
	Net Operating Income (Loss)			n/a
D. Calculate MVP's current breakeven point in both units (rounding up to nearest whole unit) and dollars (rounded to nearest whole dollar):
	Units:		n/a
	Dollars (use the Contribution Margin Ratio to calculate):		n/a
E. Redo MVP's Contribution Margin Income Statement using the Vice President of Sales (VP) suggestions and projected increase in sales volume below (all amounts should be a formula/link rounding per unit amounts to 2 decimal places:
	Reduce selling price by:	5.00%
	Increase advertising costs by:	$ 4,950
	Projected sales volume increase:	25.00%
		Total Units	Amount
			Per Unit	n/a
	Sales			n/a
	Variable Costs:
	Direct Materials			n/a
	Direct Labor			n/a
	Variable Manufacturing Overhead			n/a
	Sales Commissions			n/a
	Shipping			n/a
	Variable Billing			n/a
	Total Variable Costs			n/a
	Contribution Margin			n/a
	Fixed Costs:
	Fixed Manufacturing Overhead			n/a
	Advertising			n/a
	Sales and Admin. Salaries			n/a
	Fixed Billing			n/a
	Total Fixed Costs			n/a
	Net Operating Income (Loss)			#N/A
F. Using the budgeted contribution margin income