Bernie Corp manufactures drum sets. They have hired you as the new student inter. The following costs result from the production and sale of 4,700 drum sets manufactured for the year ended December 31, 2019. The drum sets sell for $320 each. The company has a 35% income tax rate. $145,700 451,200 188,000 136,300 Variable production costs Plastic for caning Wages of assembly workers Drum stands Variable selling costs Sales commasions Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative costs Lease of equipment for salen statt Accounting statt salaries Adininistrative management salarios 8,000 16,000 76,000 16,000 66,000 146,000 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute its contribution margin per unit and its contribution margin ratio. (Round Contribution margin ratio to nearest whole percentage.) BERNIE Corp Contribution Margin Income Statement (partial) For Year Ended December 31, 2019 Per Unit $ 320 Sales Variable costs: Plastic for casing Wages of assembly workers Drum stands Sales commissions 145,700 451,200 188,000 136,300 921,200 Total variable costs Contribution margin $ 124 Contribution Margin Ratio $ 320 100% Sales Variable costs Contribution margin 921,200 124 $ 39%