Sheridan 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 estimates the following revenues and costs. Sales $212,000 Direct materials $2,000,000 Selling expenses- variable 480,000 Selling expenses- fixed 330,000 Administrative expenses-variable 50,000 Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed 28,000 90,000 350,000 Administrative expenses-fixed 280,000 Prepare a CVP income statement for 2020 based on management's estimates. SHERIDAN COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle Compute the break-even point in (1) units and (2) dollars. (Round answers to o 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, e.g. 0.25 and final answers to O decimal places, e.g. 25%.) Contribution margin ratio Margin of safety ratio Determine the sales dollars required to earn net income of $150,000. (Round answer to O decimal places, e.g. 1,225.) Required sales dollars