Pharoah 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 $1,850,000 490,000 330,000 350.000 220.000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $102,000 57.000 23,000 111,500 (a) Prepare a CVP income statement for 2020 based on management's estimates. PHAROAH COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 $ >