The following costs result from the production and sale of 4,050 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $255 each. Variable costs Plastic for casing Wages of assembly workers Drum stands Sales commissions Fixed costs $ 72,900 336,150 109,350 64,800 Taxes on factory 10,500 Factory maintenance 21,000 Factory machinery depreciation 81,000 Lease of equipment for sales staff 21,000 Accounting staff salaries 71,000 Administrative salaries 151,000 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a contribution margin income statement for the year. TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs: Contribution margin Fixed costs Income < Required 1 Required 2 >