The following costs result from the production and sale of 4,000 drum sets manufactured by Tight Drums Company for the year ended December 31, 2015. The drum sets sell for $250 each. The company has a 25% income tax rate.

Variable production costs
Plastic for casing	$	68,000
Wages of assembly workers		328,000
Drum stands		104,000
Variable selling costs
Sales commissions		60,000
Fixed manufacturing costs
Taxes on factory		10,000
Factory maintenance		20,000
Factory machinery depreciation		80,000
Fixed selling and administrative costs
Lease of equipment for sales staff		20,000
Accounting staff salaries		70,000
Administrative management salaries		150,000

Required:

1.

Prepare a contribution margin income statement for the company.

TIGHT DRUMS COMPANY
Contribution Margin Income Statement
For Year Ended December 31, 2015
Sales		$1,000,000
Variable costs:
Plastic for casing	68,000
Wages of assembly workers	328,000
Drum stands	104,000
Sales commissions	60,000
Total variable costs		560,000
Contribution margin		440,000
Fixed costs
Factory machinery depreciation	80,000
Factory maintenance	20,000
Lease of equipment for sales staff	20,000
Accounting staff salaries	70,000
Administrative management salaries	150,000
Taxes on factory	10,000
Total fixed costs		350,000
Pretax income		200,000
Income tax		50,000
Net income		$150,000

Note to the above question: I have answered this but Pretax income, Income Tax, and Net income is not correct. Please help me figure out the numbers and also if there is anything else wrong with this answer.

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, 2015
		Per Unit
Sales		$250
Variable costs:
Plastic for casing	17
Wages of assembly workers	82
Drum stands	26
Sales commissions	15
Total variable costs		140
Contribution margin		$110
Contribution Margin Ratio
Sales	$250	100%
Variable costs	140
Contribution margin	$110	44%

Note to the above question; everything is so far correct with my answer but there is something missing. Please help me figure out what that is. Thanks