a). (i) What is meant by Cost Volume Profit (CVP) Analysis? Explain. (04 marks) What are the assumptions of CVP analysis? (04 marks) (ii) b). A company is planning to introduce a new product to the market. Following are the costs estimated for manufacturing and selling of this new product during the next financial year. Rs. (per unit) Selling Price 120/= Variable costs Direct material 60/= Direct Labour 407= Fixed manufacturing cost Fixed selling and distribution expenses Rs. 350,000/= Rs.100,000/= You are required to calculate (i) Contribution Sales (C/S) Ratio. (ii) Units and Sales Value at the break-even-point. (iii) Units of this product that will have to be sold in the next year, to earn a profit of Rs. 78,000/=? (iv) The break-even quantity and quantity to be sold to earn a profit of Rs. 86,000/= in the next year under each of the following circumstances. (1) A discount of 10% is received from the material supplier. (II) A motor vehicle is hired for a monthly rental for Rs.8000/= to distribute the products. (12 marks)