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Problem 5-3A (Video) Cullumber Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 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 $1,800,000 510,000 390,000 410,000 130,000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $105,000 62,000 25,000 96,000 Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Prepare a CVP income statement for 2020 based on management's estimates. CULLUMBER COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Expenses Net Income/(Loss) Sales Selling Expenses Total Fixed Expenses Total Variable Expenses Variable Expenses Gross Profit $ Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle Compute the break-even point in (1) units and (2) dollars. (Round answers to o decimal places, e.g. 1,225.) (1) Compute the break-even point units (2) Compute the break-even point $ 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 O decimal places, e.g. 25%.) Contribution margin ratio % Margin of safety ratio % Determine the sales dollars required to earn net income of $170,000. (Round answer to 0 decimal places, e.g. 1,225.) Required sales dollars Click if you would like to Show Work for this question: Open Show Work