P22.3A (LO 3, 4, 5) Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers. For the year 2020, management estimates the following revenues and costs. Prepare a CVP income statement compute break even point, contribus margin ratio, margin of safety ratic and sales for target net income $1,800,000 430,000 360,000 $70,000 65.000 Excel Sales Direct materials Direct labor Manufacturing overhead- variable Manufacturing overhead fixed Selling expenses variable Selling expenses--fixed Administrative expenses- variable Administrative expenses- fixed 20.000 380,000 60,000 280.000 Instructions a. Prepare a CVP income statement for 2020 based on management's estimates. (Show column for total amounts only.) b. Compute the break-even point in (1) units and dollars. c. Compute the contribution margin ratio and the margin of safety ratio. (Round to nearest full percent.) d. Determine the sales dollars required to earn net income of $180,000. b. (1) 2,700,000 units CCM ratio 3096