Canada Food Co. (CFC) is a large organization which has several divisions in the food fields. Their jam and marmalade division produce 4 types of sandwich spreads which it sells in jars. They need to determine what type of competitive market they are in. They have many competitors, but it is expensive to create a sandwich spread production process. The price of the inputs is set by the commodity market and generally beyond the control of management. You are the management accountant assigned to this division. CFC's year end is September 2021. Production equals sales so there are no inventories. A) CVP Income Statements: The sales and cost figures for the month of August 2021 are as follows. Variable and fixed costs are all manufacturing costs. Selling, administrative, marketing, and other costs are ignored since they stay constant over the year. Budget Selling Price Variable Cost Fixed Cost Sales Volume Marmalade $4.60 $2.60 $50,000 45,000 Apple 5.00 2.70 19,000 25,000 Strawberry 5.50 2.90 15,000 10,000 Raspberry 6.00 3.40 6,900 5,000 85,000 Actual Selling Price Variable Cost Fixed Cost Sales Volume Marmalade Apple Strawberry Raspberry $4.60 $2.71 $50,000 57,600 5.20 2.90 20,000 18,000 5.70 3.00 15,000 9,600 6.10 3.50 17,000 13,200 98,400 CFC uses the variable costing approach for its sales and cost analysis. As part of the report, you are required to prepare a cot-volume-profit income statement by product and in total for CFC with variances between budget and actual.