You are on a strategic planning committee at Griffin Industries. Griffin reported the following
for the year ended December 31, 2020 based on 600,000 units sold.
				Griffin Industries
				Income Statement (partial)
				for the year ended December 31, 2020
		Sales revenue				$ 5,400,000
		Cost of goods sold				4,450,000
		Gross profit				$ 950,000
Management is considering two alternative pricing strategies to increase its gross profit in 2021.
The details of those strategies can be found on the "Strategy Proposals" tab in this worksheet. You
must enter your AccessID in cell B5 above before you will be able to read it.
Instructions
In the "Your Solutions" tab of this worksheet, prepare the following:
1. A 2021 sales budget for each proposal.
2. A 2021 production budget for each proposal.
3. A 2021 budgeted partial income statement in the same format as the one shown above. Note
that you will need to calculate cost per unit in 2021 to determine budgeted cost of goods sold.
4. A short memo explaining which proposal you recommend and why. If you prefer, you may
prepare this in a separate .doc file and attach it with your assignment.