2. Assignment: Cost Volume and Profit Formulas Resources: Ch. 6 of Essentials of

2. Assignment: Cost Volume and Profit Formulas Resources: Ch. 6 of Essentials of Accounting Due Date: Day 7 [Individual] forum Review the following illustrations found in Ch. 6 of your text:6-12 6-15 6-17 6-18 6-19& 6-20. Write a 350- to 700-word paper using APA guidelines thataddresses the following:o Explain the components of cost-volume-profit analysis.o What does each of the components mean?o Based on the formulas you have reviewed what happens tocontribution margin perunit when unit selling prices increase? Illustrate your explanationwith an examplefrom a fictitious company of how an increase in unit selling pricesmight affectcontribution margin.o When fixed costs decrease what does this do for sales?Illustrate your explanationwith an example from a fictitious company.o Define contribution ratios.o What happens to contribution ratios as one of the componentschanges? Post your paper as a Microsoft Word attachment.