The following costs result from the production and sale of 4,850 drum sets manufactured by Tight Drums Company for the year ended December 31, 2017. The drum sets sell for $335 each. The company has a 30% income tax rate. 20 points $164,900 480. 15e 208,550 eBook Print 155, 200 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 Factory machinery depreciation Fixed selling and administrative costs Lease of equipment for sales staff Accounting staff salaries Administrative management salaries References 6,500 13,000 73,000 13,ese 63, Bee 143, eee Required: 1. Prepare a contribution margin income statement for the company 2. Compute its contribution margin per unit and its contribution margin ratio. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution margin income statement for the company. TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31, 2017 Sales Variable costs Drum stands points Income tax eBook Print References Total variable costs Contribution margin Fixed costs Total fixed costs Required 1 Required 2 Compute its contribution margin per unit and its contribution margin ratio. (Round Contribution percentage.) TIGHT DRUMS COMPANY Contribution Margin Income Statement (partial) For Year Ended December 31, 2017 Per Unit Sales Variable costs Total variable costs Contribution margin