CALCULATOR PRINTER VERSION BACK NE Problem 5-3A (Video) Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,980,000 Seling experses variable $79,000 Direct materials 500,000 Selling experses-feed 56,000 Direct labor 380,000 Administrative expenses variable 27,000 Manufacturing overhead-variable 400,000 Administrative expenses-fored 179,500 Manufacturing overhead-fixed 210,000 Prepare a CVP Income statement for 2020 based on management's estimates SHERIDAN COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 1,980,000 Variable Expenses . Cost of Goods Sold . Is00000 Selling Expenses 79000 Administrative Expenses 27,000 Total Variable Expenses Contribution Margin Fixed Expenses Cost of Goods Sold + Selling Expenses . Totalred E Prepare a CVP Income statement for 2020 based on management's estimates. SHERIDAN COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 1,980,000 Variable Expenses Cost of Goods Sold 500000 Selling Expenses 79000 Administrative Expenses 27,000 Total Variable Expenses Contribution Margin Fixed Expenses Cost of Goods Sold Selling Expenses Administrative Expenses Total Fixed Expenses . Net Income/(Loss Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle $ Total Fed Expenses CALCULATOR PRINTER VERSION BACK Net Income/(Loss) Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, s. 0.251.) Variable cost per bottle Compute the break-even point in (1) units and (2) dollars. (Round answers to decimal place, ap. 1,225.) (1) Compute the break-even point units (2) Compute the break-even point Compute the contribution margin ratio and the margin of safety ratio. (Nound variable cost per bottle to 3 decimal places. 0.25 and final answers to decimal places, a. 25.) Contribution margin ratio Margin of safety ratio Determine the sales dollars required to earn net income of $150,000. (Hound answer to decimal placess. 1,228) Required sales dollars Click if you would like to show Work for this question On Show Work Question Attempts of I used