The following costs result from the production and sale of 4,000 drum sets manufactured by Tight Drums Company for the year ended December 31, 2015. The drum sets sell for $250 each. The company has a 25% income tax rate.

Variable production costs
Plastic for casing	$	68,000
Wages of assembly workers		328,000
Drum stands		104,000
Variable selling costs
Sales commissions		60,000
Fixed manufacturing costs
Taxes on factory		10,000
Factory maintenance		20,000
Factory machinery depreciation		80,000
Fixed selling and administrative costs
Lease of equipment for sales staff		20,000
Accounting staff salaries		70,000
Administrative management salaries		150,000
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 Compute its contribution margin per unit and its contribution margin ratio. (Round Contribution margin ratio to nearest whole percentage.) TIGHT DRUMS COMPANY Contribution Margin Income Statement (partial) For Year Ended December 31, 2015 Per Unit Sales Variable costs: Total variable costs Contribution margin