I sort of disagree with Doc Harry.
If you have a 1m SMB (the common size) then one full breath at 10m should result in a nearly full bag at the surface, unless your lungs are smaller than mine (which I find difficult to believe of anybody who isn't eleven years old).
However, it is true that you have to manage your buoyancy, to blow a full breath into a bag and control it before release. The way to do this sounds more complicated than it is to do: Get the bag out and ready to inflate. Take a deep breath and hold it (airway open, of course) and check buoyancy. Adjust as necessary so that you are NEUTRAL with a full breath held. Position yourself slightly head down, too, so you can fin down if you have miscalculated.
Once you are neutral with full lungs, blow a full breath into the bag. You haven't changed the total air volume at all, just the location. Maintain full exhalation while you okay the team and check above you. Release the bag and take a full breath -- buoyancy is still neutral. Now, as the bag is proceeding to the surface, adjust your buoyancy to very slightly negative with normal breath. Then you can keep a small amount of tension on the line, keep the bag upright, and maintain neutral buoyancy.
Takes four paragraphs to write, and seconds to do, once you get the sequence sorted out.