The following costs result from the production and sale of $5,000$ drum sets manufactured by Tight Drums Company for the year ended December $31.$ The drum sets sell for $$350$ each.

$\backslash$table$[[$Variable costs,$],[$Plastic for casing,$185,000],[$Wages of assembly workers,$510,000],[$Drum stands,$230,000],[$Sales commissions,$175,000],[$Fixed costs,$5,000],[$Taxes on factory,$10,000],[$Factory maintenance,$70,000],[$Factory machinery depreciation,$10,000],[$Lease of equipment for sales staff,$60,000],[$Accounting staff salaries,$140,000]]$

Required:

Prepare a contribution margin income statement for the year.

Compute contribution margin per unit and contribution margin ratio.

For each dollar of sales, how much is left to cover fixed costs and contribute to income?

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Prepare a contribution margin income statement for the year.