< Ch22_Assignment_2_Students P22-24 Prepare a CVP income statement, compute break-coch point, cotribution mopein ratio, marvih of safere ratio and sales for target net income Jorge 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 2017, management estimates the following revenues and cost Sales Selling expenses variable Direct materials Direct labor Manufacturing overhead- variable Manufacturing overhead-fixed $1,800,000 430,000 $70,000 Selling expenses - fixed 65,000 360,000 380,000 Administrative expenses - variable Administrative expenses - fixed 20,000 60,000 280,000 Instructions (a) (b) Prepare a CVP income statement for 2017 based on management estimates. (Show column for total amounts only.) Compute the break-even point in (1) units and (2) dollars. (c) Compute the contribution margin ratio and the margin of safety ratio. (Round to the nearest full percent.) (d) Determine the sales dollars required to earn net income of $180,000. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?".