The following costs result from the production and sale of 4,200 drum sets manufactured by Tight Drums Company for the year ended December 31, 2017. The drum sets sell for $270 each. The company has a 25% income tax rate Variable production costs Plastic for casing Wages of Drum stands $88,200 361,200 126,000 assembly workers Variable selling costs Sales commissions 79,800 Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation 12,000 24,000 84,000 Fixed selling and administrative costs Lease of equipment for sales staff Accounting staff salaries 24,000 74,000 154,000 Administrative management salaries 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