The following costs result from the production and sale of 4,100 drum sets manufactured by Tight Drums Company for the year ended December 31, 2017. The drum sets sell for $260 each. The company has a 35% income tax rate. $ 77,900 344, 400 114, 800 69, 700 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 11000 22,000 82.000 22.000 72.000 152,000 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 Vanable costs Total variable costs Contribution margin Fixed costs Total fixed costs Required 2 > Compute its contribution margin per unit and its contribution margin ratio. (Round Contribution margin ratio to nearest whole percentage.). TIGHT DRUMS COMPANY Contribution Margin Income Statement (partial) For Year Ended December 31, 2017 Per Unit Sales Variable costs Total vanable costs Contribution margin