The following costs result from the production and sale of 4,550 drum sets manufactured by Tight Drums Company for the year ended December 31, 2017 The drum sets sell for $305 each. The company has a 40% income tax rate. $127,400 423, 150 168,350 118,300 Variable production costa Plastic for casing Wages of assembly workers Drum stands Variable 301ling costs Sales commissions Fixed manufacturing conta Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative conto Lease of equipment for sales state Accounting statt salaries Administrative management salaries 9,500 19,000 79,000 19,000 69,000 149,000 Required: 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 A Prepare a contribution margin income statement for the company. TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31, 2017 Sales Variable costs: Total variable costs Contribution margin Fixed costs Total fixed costs Required Required 2 >