11-2 Culver Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2017, management estimates the following revenues and costs. $50,000 50,000 36,000 54,000 $1,840,000 Selling expenses-variable Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed 440,000 Selling expenses-fixed 320,000 Administrative expenses-variable 350,000 Administrative expenses-fixed 498,000 Prepare a CVP income statement for 2017 based on management's estimates CULVER COMPANY CVP Income Statement ated) For the Year Ending December 31, 2017 Administrative Ex tion Margin Cost of Goods Sold Fixed Total Fixed E Total Variable Expenses All Rights R of 11:37 AM 12/4/2018 o search units 12/4/201 Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, e.g. 0.255 and final answers to 0 decimal Contribution margin ratio Margin of safety ratio K TO TEXT Determine the sales dollars required to earn net income of $64,750. Required sales dollars LINK TO 1T LINK TO TEXT here to search