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 $1,650,000 Selling expenses-variable $76,500 Direct materials 460,000 Selling expenses-fixed 51,000 Direct labor 330,000 Administrative expenses-variable 21,000 Manufacturing overhead-variable 350,000 Administrative expenses-fixed 99,000 Manufacturing overhead-fixed 180,000 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 IVANHOE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 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. Compute the break-even point in (1) units and (2) dollars. (Round answers to O decimal places, eg. 1,225) (1) Compute the break-even point (2) Compute the break-even point $ eTextbook and Media units 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, eg. 25%) Contribution margin ratio Margin of safety ratio Determine the sales dollars required to earn net income of $240,000. (Round answer to O decimal places, eg. 1.225) Required sales dollars