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 $1.950,000 470,000 340,000 360,000 230,000 Selling expenses-variable Selling expenses--fixed Administrative expenses-variable Administrative expenses-fixed $171.000 59,000 24,000 120,500 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 Variable Expenses Cost of Goods Sold Selling Expenses 171000 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 Variable Expenses e Cost of Goods Sold Selling Expenses 4 171000 24000 Administrative Expenses Total Variable Expenses : Contribution Margin Fixed Expenses Cost of Goods Sold Selling Expenses 171000 Administrative Expenses 120500 Total Fixed Expenses Net Income/(Loss) Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle $ 1140000 e Textbook and Media Compute the break-even point in (1) units and (2) dollars. (Round answers to 0 decimal places, e.g. 1,225.) units Compute the break-even point Compute the break-even point (2) $ eTextbook and Media 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 0 decimal places, e.g. 25%.) 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 0 decimal places, e.g. 25%.) % Contribution margin ratio Margin of safety ratio % eTextbook and Media Determine the sales dollars required to earn net income of $210,000. (Round answer to o decimal places, c.9. 1.225.) Required sales dollars $ eTextbook and Media