Question: Please use the provided spreadsheet. The following costs result from the production and sale of 1,000 drum sets manufactured by Tight Drums Company for the

Please use the provided spreadsheet.

The following costs result from the production and sale of 1,000 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum sets sell for $500 each. The company has a 25% income tax rate. Required 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio. Analysis Component 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? Thoht Drums Company Contribution Margin Income Statement For Year Ended December 31, 2019 PART? PART 3

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