201 5 points The following costs result from the production and sale of 4,300 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum sets sell for $280 each. The company has a 35% income tax rate Variable production costs Plastic for casing Wages of assembly workers Drum stands Variable selling costs Sales commissions Fixed manufacturing costs. Taxes on factory Factory maintenance $ 98,900 178,400 137,600 90,300 eBook 13,000 26,000 Fixed selling and administrative costs $6,000 Print 26,000 76,000 156,000 Factory machinery depreciation Lease of equipment for sales staff Accounting staff salaries Administrative management salaries References Required: 1. Prepare a contribution margin income statement for the year 2. Compute its contribution margin per unit and its contribution margin ratio 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? ON Chap 18 Homework 20 5 points Sales Variable costs: eBook Total variable costs Print References Contribution margin Fixed costs Total fixed costs Contribution Margin Income Statement For Year Ended December 31, 2019 Required Required 2 > Saved