Problem 18-2A (Algo) Contribution margin income statement and contribution margin ratio LO A1 The following costs result from the production and sale of 4,900 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $340 each. Variable costs Plastic for casing Wages of assembly workers Drum stands Sales commissions Fixed costs $ 171,500 490,000 215,600 161,700 Taxes on factory 6,000 Factory maintenance 12,000 Factory machinery depreciation 72,000 Lease of equipment for sales staff 12,000 Accounting staff salaries 62,000 142,000 Administrative salaries 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? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 For each dollar of sales, how much is left to cover fixed costs and contribute to income? (Round your answer to 2 decimal places.) For each dollar of sales, how much is left to cover fixed costs and contribute to income? < Required 2 $ 128.00 Required 3 >