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 $ 158,466 Wages of assembly workers 476,466 Drum stands 261,666 Sales commissions 148,866 Fixed costs Taxes on factory 7,666 Factory maintenance 14,666 Factory machinery depreciation 74,666 Lease of equipment for sales staff 14,666 Accounting staff salaries 54,666 Administrative salaries 144,666 Required: 1. Prepare a contribution margin income statement forthe 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. Prepare a contribution margin income statement for the year. Sales Variable costs: Contribution margin Fixed costs Required 2 > Compute contribution margin per unit and contribution margin ratio. (Round Contribution margin ratio to nearest whole percentage.) Sales Variable costs: r r r r I- Total variable costs Contribution margin ( Required1 Required3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 For each dollar of sales, how much is left to cover fixed costs and contribute to income? (Round your answer to 2 decimal places.) For each dollar of sales. how much is left to cover xed costs and contribute to income? :l ( Required 2