The following costs result from the production and sale of 4,300 drum sets manufactured by Tight Drums Company for the year ended December 31, 2017. The drum sets sell for $280 each. The company has a 35% income tax rate.

Variable production costs
Plastic for casing	$	98,900
Wages of assembly workers		378,400
Drum stands		137,600
Variable selling costs
Sales commissions		90,300
Fixed manufacturing costs
Taxes on factory		13,000
Factory maintenance		26,000
Factory machinery depreciation		86,000
Fixed selling and administrative costs
Lease of equipment for sales staff		26,000
Accounting staff salaries		76,000
Administrative management salaries		156,000

Required:

Prepare a contribution margin income statement for the company.

Complete this question by entering your answers in the tabs below.

TIGHT DRUMS COMPANY
Contribution Margin Income Statement
For Year Ended December 31, 2017
Sales		$1,204,000
Variable costs:
Plastic for casing	98,900
Wages of assembly workers	378,400
Drum stands	137,600
Sales commissions	90,300
?	?
Total variable costs		705,200
Contribution margin		498,800
Fixed costs
Taxes on factory	13,000
Factory maintenance	26,000
Factory machinery depreciation	86,000
Administrative management salaries	156,000
Lease of equipment for sales staff	26,000
Accounting staff salaries	76,000
?	?
Total fixed costs		383,000
Pretax income		115,800
Income tax		?
Net income		?

Required: 2. Compute its contribution margin per unit and its contribution margin ratio

Complete this question by entering your answers in the tabs below.

(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		$280
Variable costs:
Plastic for casing	?
Wages of assembly workers	?
Drum stands	?
Sales commissions	?
?	?
Total variable costs		?
Contribution margin		?
		?
		?

Note: Please solve the problem completely. Thank you.