Problem 10-03 Sheridan Company bottles and distributes Bute, a detetork. The beverage is sold for 60 cents per 16-ounce Docteto retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following Sales Direct materials Director Manufacturing overhead-variable Manufacturing overhead-found $1,980,000 Selling gebie 500,000 Selling gested 310,000 Amieexpenses variable 400,000 Amiens 210,000 579,000 56,000 27,000 129,500 Prepare a CV income statement for 2020 based on management estima SHERIDAN COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 . : + Calcul cost per bottle. (Round variable costretto decimal plate 251.) Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, eg. 0.251.) Variable cost per bottle Compute the break-even point in (1) units and (2) dollars. (Round answers to decimal places, c.9. 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, .g. 0.25 and final answers to decimal places, c.9. 25.) Contribution margin ratio Margin of safety ratio Determine the sales dollars required to earn net income of $150,000. (Round answer to decimal places, eg. 1,225.) Required sales dollars Click if you would like to show Work for this questions Open Show Work Problem 10-03 Sheridan Company bottles and distributes Bute, a detetork. The beverage is sold for 60 cents per 16-ounce Docteto retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following Sales Direct materials Director Manufacturing overhead-variable Manufacturing overhead-found $1,980,000 Selling gebie 500,000 Selling gested 310,000 Amieexpenses variable 400,000 Amiens 210,000 579,000 56,000 27,000 129,500 Prepare a CV income statement for 2020 based on management estima SHERIDAN COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 . : + Calcul cost per bottle. (Round variable costretto decimal plate 251.) Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, eg. 0.251.) Variable cost per bottle Compute the break-even point in (1) units and (2) dollars. (Round answers to decimal places, c.9. 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, .g. 0.25 and final answers to decimal places, c.9. 25.) Contribution margin ratio Margin of safety ratio Determine the sales dollars required to earn net income of $150,000. (Round answer to decimal places, eg. 1,225.) Required sales dollars Click if you would like to show Work for this questions Open Show Work