Problem 5-3A (Video) 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 . Sales $1,950,000 Selling expenses variable $171,000 Direct materials 470,000 Selling expenses-foed 59,000 Direct labor 340,000 Administrative expenses variable 24,000 Manufacturing overhead-variable 360,000 Administrative expenses-fixed 120,500 Manufacturing overhead-fixed 230,000 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 Sales 1950000 Variable Expenses Cost of Goods Sold 1170000 171000 Selling Expenses Administrative Expenses Total Variable Expenses 120500 1461500 Contribution Margin 488500 Fixed Expenses Selling Expenses 59000 Selling Expenses 59000 Administrative Expenses 120500 Variable Expenses 230000 Total Poved Expenses 409500 Net Income/(Loss) 79000 Cokulate 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, e.g. 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, eg. 0.25 and final answers to 0 decimal places, eg. 25%.) Contribution margin ratio Margin of safety ratio Determine the sales dollars required to earn net income of $210,000. (Round answer to 0 decimal places, e.g. 1,225.) Required sales dollars Click if you would like to show Work for this question: Con Show Work Questo se WWE TE LATTE WITA