Ch 18: Homework Question 12 of 13 View Policies Current Attempt in Progress Crane Company bottles and distributes B-ute, 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 2020 management estimates the following revenues and costs Sales $1.550.000 Selling expenses--variable $72.000 Direct materials 440.000 Selling expenses-fixed 53,000 340.000 Administrative expenses variable 28,000 Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed 360.000 Administrative expenses-fixed 48,500 100,000 Prepare a CVP income statement for 2020 based on management's estimates CRANE COMPANY CVP Income Statement (Estimated) Sales 15500) Variable Expenses Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, eg. 0.251.) Variable cost per bottle $ e Textbook and Media Compute the break-even point in (1) units and (2) dollars. (Round answers to decimal places, eg, 1.225) units (1) Compute the break-even point $ (2) Compute the break-even point e Textbook and Media - / 1 Question 12 of 13 11! Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, eg. 0.25 and final answers to decimal places, eg, 25%) Contribution margin ratio % % Margin of safety ratio e Textbook and Media Determine the sales dollars required to earn net income of $180,000 (Round answer to decimal places, es, 1.225.) Required sales dollars $ e Textbook and Media