The following costs result from the production and sale of 5,000 drum sets manufactured by Tight Drums Company for the year ended December 31, 201 The drum sets sell for $350 each. The company has a 25% income tax rate. 30 points Variable production costs Plastic for casing Wages of assembly workers Drum stands $185,000 510,000 230,000 eBook Variable selling costs sales commissions 175,000 Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation 5,000 10,000 70,000 Print Fixed selling and administrative References costs Lease of equipment for sales staff Accounting staff salaries Administrative management salaries 10,000 60,000 140,000 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 Required Required Prepare a contribution margin income statement for the company TIGHT DRUMS COMPA Contribution Margin Income Statement For Year Ended December 31, 2017 Sales Variable costs Total variable costs Contribution margin Fixed costs Total fixed costs Required 1 Required 2