Sandhill 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 75 cents per bottle. For the year 2022, management estimates the following revenues and costs. Sales $1,800,000 Direct materials Selling expenses-variable Selling expenses-fixed 420,000 $87,000 61,000 Direct labor 400,000 Administrative expenses-variable 23,000 Manufacturing overhead-variable 420,000 Administrative expenses-fixed 99.000 Manufacturing overhead-fixed 110.000 Your answer is partially correct. Prepare a CVP income statement for 2022 based on management's estimates, SANDHILL COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2022 Sales 1800000 Variable Expenses Cost of Goods Sold 980000 Selling Expenses 87000 Administrative Expenses 23000 i Total Variable Expenses. 1090000 Contribution Margin