Jorge 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 2017, management estimates the following revenues and costs

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Jorge 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 2017, management estimates the following revenues and costs $60,000 50,000 40,500 52,000 Sales 1,770,000 Selling expenses-variable Direct materials 410,000 Selling expenses-fixed 300,000 Administrative expenses-variable 340,000 Administrative expenses-fixed 423,000 Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Prepare a CVP income statement for 2017 based on management's estimates JORGE COMPANY CVP Income Statement (Estimated) December 31, 2017 Sales 1770000 Variable Expenses Cost of Goods Sold Selling Expenses 60000 Administrative Expenses Total Variable Expenses Contribution Margin 40500 Fixed Expenses Cost of Goods Sold Selling Expenses 50000 Administrative Expenses 52000 Total Fixed Expenses Net Income/(Loss)