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 Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $1,650,000 Selling expenses-variable 460,000 Selling expenses-fixed 330,000 Administrative expenses-variable 350.000 Administrative expenses-fixed 180.000 $76,500 51,000 21.000 99,000 Prepare a CVP income statement for 2020 based on management's estimates. IVANHOE COMPANY CVP Income Statement (Estimated) $ $ V V $ e Textbook and Media Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 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.) (1) Compute the break-even point units (2) Compute the break-even point $ e Textbook and Media 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 O decimal places, e.g. 25%.) Contribution margin ratio % Margin of safety ratio % e Textbook and Media Determine the sales dollars required to earn net income of $240,000. (Round answer to decimal places, eg. 1,225.) Required sales dollars $