The following costs result from the production and sale of 4,800 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $330 each Variable costs Plastic for casing Wages of assembly workers Drum stands Sales commissions $158,400 470,400 201,600 148,800 Fixed costs Taxes on factory 7,000 Factory maintenance 14,000 Factory machinery depreciation 74,000 Lease of equipment for sales staff 14,000 64,000 144,000 Accounting staff salaries Administrative salaries 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?