Question: Please help! Problem 21-2A (Algo) Contribution margin income statement and contribution margin ratio LO A1 The following costs result from the production and sale of

Please help! Problem 21-2A (Algo) Contribution margin income statement and contribution margin ratio LO A1 The following costs result from the production and sale of 4,400 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $290 each. Required: 1. Please help!

Problem 21-2A (Algo) Contribution margin income statement and contribution margin ratio LO A1 The following costs result from the production and sale of 4,400 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $290 each. Required: 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income? TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31 Compute contribution margin per unit and contribution margin ratio. (Round Contribution margin ratio to nearest whole percentage.) For each dollar of sales, how much is left to cover fixed costs and contribute to income? (Round your answer to 2 decimal places.)

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