It is time to show more of Business Challenge and Business Project you initiated and discussed during our “Management I” course. A. What is your Business Model Canvas?
B. Describe the benefits that derive from preparing a profit and loss statement using the contribution margin format. With your own business assumptions, prepare your Profit and Loss statement for the year ending 31 December 202X in both the conventional format and the contribution margin format. The P/L statement in the conventional format, for suggestion:
Sales revenue
Less Cost of sales
Gross Profit
Operating expenses
Salaries and Wages
Marketing
Rent
Maintenance
Other
Total operating expenses
Net Profit
C. In what ways might you as a manager use cost–volume–profit analysis? What is your business current breakeven point?