Wicked Mikes Manufacturing has a factory that produces kitchen cabinets. The company has other product lines. Materials and labor for the cabinets are determined by each job. To simplify the assignment, we will assume the following average costs The following information highlights Wicked Mikes cost structure for 2021.

The materials include $6,500 for the wood and other materials on a per job basis.

It requires 45 hours of labor on average for the cabinetry. The hourly rate is $12.

The sales price will be set at a markup of 65%.

The company estimates that it will have 90,000 direct labor hours in total for the cabinets.

It assumes 2000 units are sold on average per year.

A breakdown of estimated yearly costs for the 2000 units follows:

Salaries - office & administrative	$650,000
salaries for factory supervisor, janitor and security	$400,000
office rent	$350,000
factory rent	$100,000
office utilities and misc. office expenses (based on units sold)	$45,000
sales travel (based on units sold)	$24,000
insurance - office	$60,000
depreciation - office equipment	$40,000
depreciation for factory equipment	$85,000
advertising	$220,000
sales commissions (based on units sold)	$450,000
factory property taxes	$16,000
maintenance for factory equipment	$80,000

QUESTION 5 CALCULATIONS:

break even in units = 2,001,000/4,878	410.18
break even in sales = 12,178*410.18	$4,995,121.86
contribution margin ratio = 4,878/12,178	40%
sales price w/ target profit of $1,000,000	$7,491,435
margin of safety	$19,360,528.14

QUESTION: Discuss the importance of Excel Q5 calculations to Wicked Mikes Manufacturing (BE, TP, CM% and MOS). Give examples supported by new numbers (new spreadsheet) of how you would use these calculations as the CFO of the company. Fully discuss the differences between the traditional vs CVP format (minimum of 3).

Please answer in words since its a Written Analysis