Cost Volume Profit (CV13) Analysis Ford Seasoning's management has compiled budgeted information regarding sales and production of 12-spice forJanuary of 20XX. Use the information provided in the chart below to determine what quantity of 12-spice jars Ford Seasoning must produce and sell during January 20XX in order to meet its target amount of operating income. Item Amount Expected selling price of a jar of 12-spice 5 11.50 Expected direct materials cost of producing a jar of 12-spice 3.00 Expected direct labor cost of producing a jar of 12-spice 2.00 Expected variable overhead cost of producing a jar of 12-spice 1.50 Expected monthly xed costs 25,000 Target monthly operating income for January ZUXX 50,000 Requirement Complete the following chart using CUP analysis techniques to determine how many jars of 12spice the company must sell in order to meet its target operating income for the month. Fixed Costs Add: Target Operating Income for the Month Total Required Contribution Margin Divide by: Unit Contribution Margin Required Sales Volume to Achieve Target Operating Income I I Sales Budget Ford Seasoning's management has asked its accounting staff to prepare a sales budget for the first quarter of ZDXX. According to managements predictions, the selling price perjar of 12spice will be the same for the entire three months. Because management expects sales to grow rapidly due to a new promotional strategy, they have asked the accounting staff to budget for an increase to sales over the threemonth period. The expected rate of sales growth for each month is as follows. For your convenience, the perjar sales price is also listed. Requirement Prepare Ford Seasoning's sales budget for the first quarter of ZDXX. Set January's budgeted jars to be sold equal to the required sales volume determined by your CVP analysis. Then, increase the budgeted jars to be sold each month by the percentages given in the table above. Ford Seasoning Sales Budget For the Month Ended January 31, 201! I 1 Jan nary Budgeted Jars to be Sold Times: Sales Price per Jar Total Monthly Sales Revenue