Crane 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 $1,550,000 Selling expenses-variable $72,000 Direct materials 440,000 Selling expenses-fixed 53,000 Direct labor 340,000 Administrative expenses-variable 28,000 Manufacturing overhead-variable 360,000 Administrative expenses-fixed 48,500 Manufacturing overhead-fixed 100,000 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 1550000 Variable Expenses Cost of Goods Sold 1140000 Selling Expenses 72000 i Administrative Expenses 28000 i Total Variable Expenses 1240000 Contribution Margin 310000 Fixed Expenses Cost of Goods Sold 100000 i D 5 53000 Selling Expenses Administrative Expenses y 3000 i 485001 Administrative Expenses 48500 i Total Fixed Expenses 201500 Net Income/(Loss) 108500 * Your answer is incorrect. Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal places, e.g. 0.251.) Variable cost per bottle $ 32 e Textbook and Media x Your answer is incorrect. Compute the break-even point in (1) units and (2) dollars. (Round answers to 0 decimal places, e.g. 1,225.) (1) Compute the break-even point 2700000 units (2) Compute the break-even point $ 1350000 X Your answer is incorrect. 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 30 Margin of safety ratio of safety ratio eTextbook and Media * Your answer is incorrect. Determine the sales dollars required to earn net income of $180,000. (Round answer to 0 decimal places, e.g. 1,225.) Required sales dollars $ eTextbook and Media