The Fruit Loop Company bottles and distributes Fruity Ade, a fruit drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 70 cents per bottle. For the year 2017, management estimates the following revenues and costs. Sales Direct materials Direct labor Manufacturing overhead- 2,500,000 Selling expenses variable 80,000 250,000 40,000 150,000 60,000 Selling expenses fixed 50,000 Administrative expenses variable variable 270,000 Administrative expenses- Manufacturing overhead- fixed fixed 380,000 Instructions (Show all Calculations) (a) Prepare a CVP income statement for 2017 based on management's estimates. (b) Compute the break-even point in (1) units and (2) dollars (c) Compute the contribution margin ratio and the margin of safety ratio (d) Determine the sales dollars required to earn net inc ome of 624,000