Current Attempt in Progress Ivanhoe 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 2020, management estimates the following revenues and costs. Sales $1,950,000 Selling expenses-variable $171,000 Direct materials 470,000 Selling expenses-fixed 59.000 Direct labor 340,000 Administrative expenses-variable 24,000 Manufacturing overhead-variable 360,000 Administrative expenses-fixed 120,500 Manufacturing overhead-fixed 230,000 Your answer is partially correct. Prepare a CVP income statement for 2020 based on management's estimates. IVANHOE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 1950000 Your answer is partially correct.. Prepare a CVP income statement for 2020 based on management's estimates. IVANHOE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales Variable Expenses Cost of Goods Sold Selling Expenses Administrative Expenses Total Variable Expenses Contribution Margin Fixed Expenses Cost of Goods Sold $ 1950000 Question 13 of 13 Total Variable Expenses Contribution Margin. Fixed Expenses Cost of Goods Sold Selling Expenses Administrative Expenses Total Fixed Expenses Net Income/Loss) eTextbook and Media x Your answer is incorrect * Your answer is incorrect. Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle $ eTextbook and Media X Your answer is incorrect. Compute the break-even point in (1) units and (2) dollars. (Round answers to O decimal places, eg. 1.225.) (2) Compute the break-even point (2) Compute the break-even point $ Touthink and Media units * Your answer is incorrect. Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, e.g. 0.25 and final answers to O decimal places, e.g. 25%) Contribution margin ratio Margin of safety ratio % % eTextbook and Medial * Your answer is incorrect. Determine the sales dollars required to earn net income of $210.000. (Round answer to O decimal places, eg. 1,225.) Required sales dollars $ Contribution margin ratio Margin of safety ratio eTextbook and Media * Your answer is incorrect. % se Determine the sales dollars required to earn net income of $210,000. (Round answer to O decimal places, eg 1,225) Required sales dollars $ eTextbook and Media