Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers. For the year 2022, management estimates the following revenues and costs.

Sales		$2,000,000		Selling expensesvariable		$212,000
Direct materials		480,000		Selling expensesfixed		50,000
Direct labor		330,000		Administrative expensesvariable		28,000
Manufacturing overheadvariable		350,000		Administrative expensesfixed		90,000
Manufacturing overheadfixed		280,000

Prepare a CVP income statement for 2022 based on managements estimates. (Round per unit answers to 3 decimal places, e.g. 0.251.)

SHERIDAN COMPANY CVP Income Statement (Estimated) choose the accounting period For the Year Ending December 31, 2022December 31, 2022For the Quarter Ending December 31, 2022
				Total		Per Unit		Percent of Sales
select an income statement item Selling ExpensesGross ProfitFixed ExpensesAdministrative ExpensesSalesTotal Fixed ExpensesVariable ExpensesContribution MarginCost of Goods SoldTotal Variable ExpensesNet Income/(Loss)Manufacturing Overhead				$enter a dollar amount		$enter a dollar amount rounded to 3 decimal places		enter percentages %
select an opening name for section one Selling ExpensesManufacturing OverheadGross ProfitTotal Fixed ExpensesTotal Variable ExpensesContribution MarginCost of Goods SoldNet Income/(Loss)Variable ExpensesSalesAdministrative ExpensesFixed Expenses
select an income statement item Cost of Goods SoldVariable ExpensesGross ProfitAdministrative ExpensesTotal Fixed ExpensesNet Income/(Loss)Manufacturing OverheadFixed ExpensesSelling ExpensesTotal Variable ExpensesContribution MarginSales		$enter a dollar amount
select an income statement item Total Variable ExpensesCost of Goods SoldNet Income/(Loss)Selling ExpensesManufacturing OverheadGross ProfitSalesVariable ExpensesContribution MarginTotal Fixed ExpensesAdministrative ExpensesFixed Expenses		enter a dollar amount
select an income statement item Fixed ExpensesVariable ExpensesTotal Variable ExpensesNet Income/(Loss)Manufacturing OverheadContribution MarginGross ProfitSelling ExpensesSalesTotal Fixed ExpensesCost of Goods SoldAdministrative Expenses		enter a dollar amount
select a closing name for section one Variable ExpensesCost of Goods SoldNet Income/(Loss)Manufacturing OverheadSalesFixed ExpensesAdministrative ExpensesGross ProfitContribution MarginSelling ExpensesTotal Fixed ExpensesTotal Variable Expenses				enter a total amount for section one		enter a dollar amount rounded to 3 decimal places		enter percentages %
select a summarirzing line for the first part Net Income/(Loss)Variable ExpensesTotal Variable ExpensesGross ProfitTotal Fixed ExpensesAdministrative ExpensesContribution MarginFixed ExpensesSelling ExpensesSalesManufacturing OverheadCost of Goods Sold				enter a total amount for the first part		$enter a total amount per unit rounded to 3 decimal places		enter total percentages %
select an opening name for section two Administrative ExpensesSalesGross ProfitManufacturing OverheadContribution MarginCost of Goods SoldSelling ExpensesVariable ExpensesNet Income/(Loss)Total Variable ExpensesFixed ExpensesTotal Fixed Expenses
select an income statement item Net Income/(Loss)Gross ProfitSalesAdministrative ExpensesFixed ExpensesCost of Goods SoldManufacturing OverheadTotal Fixed ExpensesVariable ExpensesTotal Variable ExpensesSelling ExpensesContribution Margin		enter a dollar amount
select an income statement item Fixed ExpensesAdministrative ExpensesGross ProfitTotal Variable ExpensesVariable ExpensesTotal Fixed ExpensesSelling ExpensesCost of Goods SoldSalesNet Income/(Loss)Contribution MarginManufacturing Overhead		enter a dollar amount
select an income statement item Total Fixed ExpensesSalesVariable ExpensesManufacturing OverheadCost of Goods SoldAdministrative ExpensesFixed ExpensesNet Income/(Loss)Contribution MarginSelling ExpensesGross ProfitTotal Variable Expenses		enter a dollar amount
select a closing name for section two Fixed ExpensesCost of Goods SoldGross ProfitAdministrative ExpensesManufacturing OverheadNet Income/(Loss)SalesContribution MarginVariable ExpensesSelling ExpensesTotal Fixed ExpensesTotal Variable Expenses				enter a total amount for section two
select a closing name for this statement Contribution MarginCost of Goods SoldAdministrative ExpensesVariable ExpensesFixed ExpensesGross ProfitManufacturing OverheadNet Income/(Loss)Selling ExpensesTotal Variable ExpensesSalesTotal Fixed Expenses				$enter a total net income or loss amount