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The following costs result from the production and sale of 4,650 drum sets...

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Accounting

The following costs result from the production and sale of 4,650 drum sets manufactured by Tight Drums Company for the year ended December 31,2019. The drum sets sell for $315 each. The company has a 30% income tax rate.Required:
Prepare a contribution margin income statement for the year.
Compute its contribution margin per unit and its contribution margin ratio.
For each dollar of sales, how much is left to cover fixed costs and contribute to operating income?
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