Pharoah 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 Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $1,800,000 410,000 400,000 420,000 150,000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $93,000 65,000 27,000 55,000 PHAROAH COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 $ $ $