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Problem
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 78 cents per bottle. For the year 2014, management estimates the following revenues and costs.(a) Prepare a CVP income statement for 2014 based on management's estimates.
Sales
$1,807,700
Selling expenses-variable
$68,000
Direct materials
429,500
Selling expenses-fixed
66,400
Direct labor
357,100
Administrative expenses-variable
24,782
Manufacturing overhead-variable
313,700
Administrative expenses-fixed
60,500
Manufacturing overhead-fixed
285,100
(b) Calculate variable cost per bottle.
(c) Compute the break-even point in (1) units and (2) dollars.
(d) Compute the contribution margin ratio and the margin of safety ratio.
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