MCD2150 Accounting for Managers Week 10 Student Activity JJ Asian Cuisine has been in the business for a while. They have decided to conduct CVP analysis to understand the likely impact of decisions they are considering on changes to their profitability. To the best of their knowledge the estimates are based on and are consistent with the revenue and cost behaviours of the past. Jason and James provide you with budgeted information for July and August 2021. Budgeted information for July & August 2021 July August % change Sales $ 40.046.40 $ 48.060.00 20.01% Packaging used $ 2.224.80 $ 2.670.00 20.01% Groceries used $ 10.957.14 $ 13.149.75 20.01% Petrol $ 667.44 A 801.00 20.01% Advertising $ 300.00 $ 300.00 0.00% Wages $ 11.555.72 $ 11.583.54 0.24% Depreciation A 261.11 261.11 0.00% Rent 1.320.00 A KA A KA 1.320.00 0.00% Electricity and Gas 1.617.36 A A 1.929.00 19.27% Water 151.24 173.50 14.72% Additional Information Selling Price.p.u $ 7.20 Wages details Jul Aug Full time chef 6.250.00 $ 6.250.00 TA KA Full time kitchen hand 3,833.33 3,833.33 Part time kitchen hand $ 1,333.33 $ 1,333.33 Casual 139.05 $ 166.88 Required: A. Identify the fixed, variable and mixed cost items. B. Calculate monthly fixed cost and variable cost for July and August. C. Calculate contribution margin and contribution margin ratio D. Calculate the JJ Cuisine monthly break-even point in units and in sales dollars. E. Calculate profit (loss) for August