Problem 18-2A (Part Level Submission) Jorge 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 2017, management estimates the following revenues and costs. Sales $1,850,000 Selling expenses-variable $50,000 Direct materials 430,000 Selling expenses-fixed 50,000 Direct labor 330,000 Administrative expenses-variable 32,500 Manufacturing overhead-variable 360,000 Administrative expenses---fixed 60,000 Manufacturing overhead-fixed 418,500 (a) Your answer is partially correct. Try again. Prepare a CVP income statement for 2017 based on management's estimates JORGE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2017 Sales TVariable Expenses Selling Expenses 1,120000 185000U TVariable Expenses Selling Expenses 1,120000 P Administrative Expenses PDO 50000 Cost of Goods Sold 32500 T Total Variable Expenses 1202500 Contribution Margin 647500 Fixed Expenses Selling Expenses 50000 Cost of Goods Sold 418500 Administrative Expenses 60000 Total Fixed Expenses 528500 Net Income/(Loss) 119000