Problem 18-2A (Algo) Contribution margin income statement and contribution margin ratio LO A1 The following costs result from the production and sale of 4,350 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $285 each. Variable costs Plastic for casing Wages of assembly workers Drum stands Sales commissions Fixed costs $ 104,400 387,150 143,550 95,700 Taxes on factory 13,500 Factory maintenance 27,000 Factory machinery depreciation. 87,000 Lease of equipment for sales staff 27,000 Accounting staff salaries Administrative salaries 77,000 157,000 Required: 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income? Answer is not complete. Complete this question by entering your answers in the tabs below. < Prev 2 of 5 Next > www