Problem 11-2 Concord Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for S0 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2017, management estimates the following revenues and costs Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $70,000 55,000 26,000 46,000 $1,840,000 Selling expenses-variable 440,000 Selling expenses-fixed 300,000 Administrative expenses-variable 360,000 Administrative expenses 511,500 -fxed