Current Attempt in Progress 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 Selling expenses-variable $79.000 Direct materials 500,000 Selling expenses-fixed 56,000 Direct labor 380,000 Administrative expenses-variable 27,000 Manufacturing overhead-variable 400,000 Administrative expenses-foxed 179,500 Manufacturing overhead-foxed 210,000 SHERIDAN COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020