Problem 11-2 Novak 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 90 cents per bottle. For the year 2017, management estimates the following revenues and costs. Sales $2,052,000 Selling expenses-variable $60,000 Direct materials 460,000 Selling expenses-fixed 60,000 Direct labor 300,000 Administrative expenses-variable 83,800 Manufacturing overhead-variable 430,000 Administrative expenses--fixed 58,000 Manufacturing overhead-fixed 539,300 Prepare a CVP income statement for 2017 based on management's estimates. NOVAK COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2017 Sales Variable Expenses Cost of Goods Sold $ Selling Expenses Administrative Expenses Total Variable Expenses Administrative Expenses Total Variable Expenses Contribution Margin Fixed Expenses