The following costs result from the production and sale of 4,500 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $300 each. Variable costs Plastic for casing $ 121,500 Wages of assembly workers 414,000 Drum stands 162,000 Sales comissions 112,500 Fixed costs Taxes on factory 15,000 Tactory naintenance 30,000 Tactory machinery depreciation 90.000 Lase of equipment for salet statt 30,000 Accounting staft salaries 30,000 Administrative salaries 150,000 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 foxed costs and contribute to income? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 2 Prepare a contribution margin income statement for the year TOHTORUMS COMPANY Contribution Margincome Statement For Year Ended December 31 Sales Variatico Required 1 Required 2 Required 3 Prepare a contribution margin income statement for the year. 51 TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs Contribution margin Fored costs Income Recured Required 2 > Required 1 Requiredt 2 Required 3 Compute contribution margin per unit and contribution margin ratio. (Round Contribution percentage.) TIGHT DRUMS COMPANY Contribution Margin Income Statement (partial) For Year Ended December 31 Per Unit Sales Variable costs: Total variable costs Contribution margin The following costs result from the production and sale of 4,500 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $300 each $ 121,500 414,000 162,000 112,500 Variable costs Plastic for casing Wages of assembly workers Drum stands Sales commissions Fixed costs Taxes on factory Pactory maintenance Factory machinery depreciation Lease of equipment for sales statt Accounting staf! salaries Administrative salaries 15,000 30,000 90,000 30,000 80,000 160,000 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 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 saltos, how much is left to cover fixed costs and contribute to income?