Banfield, Inc. needs a forecast (budget) Income Statement and Cost-Volume-Profit information for July 2021. All Banfields costs are mixed costs. The company sells one product at a single price per unit.

Instructions:

a) Make up your own July 2021 Budget data in the following format:

Sales Revenue Budget:

Sales Units x Sales Price per Unit = Total Sales Revenue

????? x $?? = $??????

Mixed Cost Data (units and cost must be different on each line to receive credit): Units Produced Total Cost ???? $????? ???? $????? ???? $????? ???? $?????

b) Calculate your Variable Cost per unit and Total Fixed Cost using the High-low Method.

c) Calculate your budget Net Income or Loss for July 2021 for the number of units on your Sales Revenue Budget.

d) Calculate your total Contribution Margin (CM) and CM per unit.

e) Calculate your Break-Even Sales units and Break-Even Sales Revenue (round to nearest unit and $1 of Sales Revenue).

f) Calculate the Margin of Safety percentage (ratio) at your budget Sales Revenue (round to nearest 00.0%).

[PLEASE SHOW ALL THE CALCULATION]