The following costs result from the production and sale of 4.600 drum sets manufactured by Tight Drums Company for the year ended December 31, 2015. The drum sets sell for $310 each. The company has a 25% income tax rate. Variable production costs s 133.400 Plastic for casing 432.400 Wages of assembly workers 174,800 Drum stands Variable selling costs 124.200 Sales c Fixed manufacturing costs Taxes on factory 9.000 18.000 Factory maintenance 78.000 Factory machinery depreciation Fixed selling and administrative costs 18,000 Lease of equipment for sales staff 68,000 Accounting staff salaries Administrative management salaries 148,000 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 Variable costs. Total variable costs Contribution margin Fixed costs Total fixed costs