Cost-Volume-Profit (CVP) Analysis: Introduction Emma Frost is considering selling GMAT Success, a test prep book and software for MBA applicants at a college fair in Chicago. She knows she can purchase the package from a wholesaler with the privilege of returning alll unsold packages for a full refund. She must also pay a rental fee to the fair organizers Emma must decide whether to embark on this business venture. Financial estimates are provided below Selling price per test prep package P = $200.00 Cost per test prep package VC = $120.00 Rental fee FC = $3,000 Sales volume estimates (# test prep kits) Q = 50.0 (1) Prepare a contribution margin income statement. total per unit Selling price Variable cost Contribution margin Rental fee Operating income What happens to Ol when volume is 51 units? 52 units? 53 units