Cost-volume-profit (CVP) analysis is the study of the effects of changes in costs and volume on a companys profits. It is important for use in profit planning and is also a critical factor in management decisions such as setting selling prices, determining product mix, and maximizing use of production facilities.

Given this information above, you are required to:

1) Research and find a real-life small business (if you are unable to find one, the business can be fictitious).

2) Provide information to the owners of the small business about Cost Volume Profit Analysis and its usefulness. be sure to mention the different formulae used under Cost Volume Profit Analysis and provide examples of how they can be used by the small business.