Question 12 of 12 0.35 Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. $96,500 63.000 Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $1,750,000 Selling expenses-variable 450,000 Selling expenses-fixed 360,000 Administrative expenses-variable 380,000 Administrative expenses-fixed 130,000 26,000 69,500 (a) Your answer is correct. Prepare a CVP income statement for 2020 based on management's estimates. CRANE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 1.750.000 Variable Expenses Cost of Goods Sold 1.190,000.00 Question 12 of 12 Sales 1750,000 Variable Expenses Cost of Goods Sold $ 1.190,000.00 Selling Expenses 96,500.00 i Administrative Expenses 26,000.00 1312.500,00 i Total Variable Expenses Contribution Margin 437.500.00 Fixed Expenses Cost of Goods Sold 130,000.00 Selling Expenses 63,000.00 Administrative Expenses 69500.00 262.500.00 Total Fixed Expenses $ 175.000,00 Net Income/(Loss) e Textbook and Media UJJ)