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Problem 21-2B Contribution margin income statement and contribution margin ratio A1 The following costs result...

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Problem 21-2B Contribution margin income statement and contribution margin ratio A1 The following costs result from the production and sale of 12,000 LEGO sets manufactured by LEGO Company for the year ended December 31. The LEGO sets sell for $20 each. Variable costs Plastic for LEGO sets Wages of assembly workers .... Labeling ......... Sales commissions.. $3,000 30,000 3,000 6,000 Fixed costs Rent on factory Factory cleaning service. Factory machinery depreciation Lease of office equipment Office staff salaries... Administrative salaries. $ 6,750 4,520 20,000 1,050 15,000 120,000 Required 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. Analysis Component 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income

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