You have recently been approached for advice by one of your clients, Derien Limited. The company commenced trading a year ago and manufactures one product used in the hotel sector. Derien Limited currently does not employ a management accountant and while it has an excellent bookkeeper, the managing director is of the view that more detailed and analytical information is necessary. The managing director has asked you to explain cost-volume-profit (CVP) analysis as he considers that Derien Limited is at the stage of development to benefit from more detailed management accounting information. Requirement Prepare a memorandum for the managing director of Derien Limited: i) Outlining the key aspects of cost-volume-profit (CVP) analysis including: Important terms and formulae specifically used in CVP analysis Information that CVP analysis may provide. Briefly explaining FIVE of the assumptions of CVP analysis ii) (8 marks)