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Check my work mode : This shows what is correct or incorrect for the work you have complet Problem 5-1A Contribution margin income statement and contribution margin ratio LO A1 The following costs result from the production and sale of 4,650 drum sets manufactured by Tight Drums Company for the year ended December 31, 2017. The drum sets sell for $315 each. The company has a 30% Income tax rate. $139,500 441,750 181,350 130,200 Variable production costs Plastic for casing Wages of assembly workers Drum stands Variable selling costs Sales commissions Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative costs Lease of equipment for sales staff Accounting staff salaries Administrative management salaries 8,500 17, 77, oee 17,000 67,000 147,00 Required: 1. Prepare a contribution margin income statement for the company. 2 Compute its contribution margin per unit and its contribution margin ratio Answer is not complete. Complete this question by entering your answers in the tabs below. -1A Check my work mode : This shows what is correct on Required 1 Required 2 Compute its contribution margin per unit and its contribution margin ratio. (Round Contribution mar percentage. TIGHT DRUMS COMPANY Contribution Margin Income Statement (partia For Year Ended December 31, 2017 Per Unit $1,464,750 Sales Variable costs Plastic for casing Wages of assembly workers Drum stands 571.950 4.650 571.950 $ Sales commissions Total variable costs Contribution margin 1.148 873 $ 702, 1503 Contribution Margin Ratio 1.4841750 1005 Variable costs Contribution margin un Type here to search

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