Problem 18-03A Ivanhoe 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 $1,650,000 460,000 330,000 350,000 180,000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $76,500 51,000 21,000 99,000 Prepare a CVP income statement for 2020 based on management's estimates. IVANHOE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 LINK TO TEXT LINK TO VIDEO Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle LINK TO TEXT LINK TO VIDEO Compute the break-even point in (1) units and (2) dollars. (Round answers to 0 decimal places, e.g. 1,225.) (1) Compute the break-even point units (2) Compute the break-even point LINK TO TEXT LINK TO VIDEO Compute the contribution margin ratio and the margin of safety ratio. (Round variable cost per bottle to 3 decimal places, e.g. 0.25 and final answers to o decimal places, e.g. 25%.) Contribution margin ratio Margin of safety ratio LINK TO TEXT LINK TO VIDEO Determine the sales dollars required to earn net income of $240,000. (Round answer to 0 decimal places, e.g. 1,225.) Required sales dollars Click if you would like to Show Work for this question: Open Show Work