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 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $102,000 57,000 23,000 111,500 220,000 (a) Your answer is correct. 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 Sales 1850000 Variable Expenses Cost of Goods Sold $ 1170000 i PHAROAH COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 1850000 Variable Expenses Cost of Goods Sold $ 1170000 i Selling Expenses 102000 i Administrative Expenses 23000 i Total Variable Expenses 1295000 Contribution Margin 555000 Fixed Expenses Cost of Goods Sold 220000 i Selling Expenses 57000 i Administrative Expenses 111500 i Total Fixed Expenses 388500 i Nel Income/(Loss) $ 166500 Your answer is correct. Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle $ .35 e Textbook and Media Attempts: 3 of 5 used (52) Your answer is correct. Compute the break-even point in (1) units and (2) dollars. (Round answers to 0 decimal places, eg. 1,225.) (1) Compute the break-even point 2590000 units (2) Compute the break-even point $ 1295000 (c) Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, eg. 0.25 and final answers to O decimal places, eg. 25%.) Contribution margin ratio % Margin of safety ratio % e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (d) The parts of this question must be completed in order. This part will be available when you complete the part above