Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for50cents per 16-ounce bottle to retailers, who charge customers75cents per bottle. For the year 2020, management estimates the following revenues and costs.

Sales $1,750,000

Selling expensesvariable $96,500

Direct materials 450,000

Selling expensesfixed 63,000

Direct labor 360,000

Administrative expensesvariable 26,000

Manufacturing overheadvariable 380,000

Administrative expensesfixed 69,500

Manufacturing overheadfixed 130,000

Create CVP income statement for 2020 based on management's estimates..Calculate variable cost per bottle. Compute the break-even point in (1) units and (2) dollars. Compute the contribution margin ratio and the margin of safety ratio. Determine the sales dollars required to earn net income of $220,000.