Current Attempt in Progress Wildhorse 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 Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $1,850,000 470,000 340,000 360,000 170,000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses--fixed $95,000 54,000 30,000 109,000 (a) Your answer is partially correct. Prepare a CVP income statement for 2020 based on management's estimates. WILDHORSE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 1,850,000 Variable Expenses V Selling Expenses $ 95,000 i 360000 Prepare a CVP income statement for 2020 based on management's estimates. WILDHORSE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales $ 1,850,000 Variable Expenses Selling Expenses $ 95.000 360000 Administrative Expenses 30000 Total Variable Expenses Fixed Expenses Selling Expenses Net Income/(Loss) 876,500.00 e Textbook and Media