Overview The next step in planning for your new business is to analyze the cost behaviors and systems of your industry and conduct the relevant financial calculations to determine appropriate costing solutions. In this milestone assignment, you will conduct a break-even analysis to determine your target profits and the selling price you plan to use to achieve these profits for each product Prompt Use information from Milestone One and the provided Milestone Two Market Research Data Appendix Word Document to conduct a cus volume profit analysis. Complete the "Contribution Margin Analysis" and "Break Even Analysis" tabs in the Project. Workbook Sonsachhest that you used for completing the Milestone One assignment. Specifically, you must address the following rubric criteria: Contribution Margin. Determine your contribution margin per unit in the "Contribution Margin Analysis" tab. Choose a sales price for each product. Calculate the contribution margin for each product based on your sales price and the variable cost for that product. Show your work using calculations to the side of the table or using appropriate formulas in the table Break-Even Analysis. Use cost-volume-profit (CVP) analysis to determine your break-even points for achieving your target prohts in the "Break-Even Analysis" tab. Determine the break-even points for each product. Show your work using calculations to the side of the table or using approprude formulas in the table. Determine break-even units for the suggested target profits for each product. Show your work using calculations to the side of the be or using appropriate formulas in the table Guidelines for Submission: Submit the Project Workbook with the "Contribution Margin Analysis" and "Break Even Analysis" tabs completed. This he should be completed and submitted uning Microsoft Excel Milestone Two Rubric: Needs Ingevement Vale Milestone Two: Market Research Data You have conducted some market research for style and size of products you want to use to launch your business. The market research has indicated the following sales price ranges will be optimal for your area depending on style of products you choose to sell: Collars o With pricing at $20 per collar, you can expect to sell 30 collars per day. With pricing at $24 per collar, you can expect to sell 25 collars per day. With pricing at $28 per collar, you can expect to sell 20 collars per day Leashes o With pricing at $22 per leash, you can expect to sell Leashes o With pricing at $22 per leash, you can expect to sell 28 leashes per day. With pricing at $26 per leash, you can expect to sell 23 leashes per day. With pricing at $30 per leash, you can expect to sell 18 leashes per day. Harnesses With pricing at $25 per harness, you can expect to sell 25 harnesses per day. With pricing at $30 per harness, you can expect to sell 22 harnesses per day. o With pricing at $35 per harness, you can expect to sell 20 harnesses per day. Additionally, you will need to compare your break-even Additionally, you will need to compare your break-even points for the following target profits for each area of your business to determine your prices: Collars Break-even $300 target profit each month $500 target profit each month Leashes o Break-even o $400 target profit each month $600 target profit each month Harnesses o Break-even $500 target profit each month Harnesses o Break-even o $500 target profit each month $650 target profit each month Remember that all break-even and target points must be in whole units (we cannot sell a partial unit). Round up when calculating partial units to ensure costs are covered. Excel tip -use ROUNDUP function Done Cost Classification Variable and Fixed Costs Contribution Margin Analysis Break-Even Analysis Milestone Two Contribution Margin Analysis COLLARS Sales Price per Uni Vale Cost per U Contin Margin LEASHES HARNESSES Done Cost Classification Milestone Two-Break-Even Analysis Sales Pre Fixed C C Marg Bak Up T T ken Usin Variable and Fixed Costs Contribution Margin Analysis Break-Even Analysis CO COLLARS LEASHES HARNESSES