The following costs result from the production and sale of 4,150 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $265 each $ 83,000 352,75e 128,35e 74,700 Variable costs Plastic for casing Wages of assembly workers Drum stands Sales commissions Fixed costs Taxes on factory Factory saintenance Factory machinery depreciation Lease of equipment for sales staff Accounting staff salaries Administrative salaries 11,5 23,000 83,000 23,00 73, eee 153.ee 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? Complete this question by entering your answers in the tabs below. Required 2 Required 1 Required 3 Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs: Contribution margin Fixed costs Income 4 Compute contribution margin per unit and contribution margin ratio. (Round Contribution margin ratio to nearest wnole percentage.) TIGHT DRUMS COMPANY Contribution Margin Income Statement (partial) For Year Ended December 31 Per Unit Book Sales Variable costs tonces Total variable costs Contribution margin 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? 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 fixed costs and contribute to income?