Problem 21-2A Contribution margin income statement and contribution margin ratio 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. The drum sets sell for $500 each. Variable costs Plastic for casing... Wages of assembly workers. Drum stands... Sales commissions... $17,000 82,000 26,000 15,000 Fixed costs Taxes on factory Factory maintenance Factory machinery depreciation ... Lease of equipment for sales staff.. Accounting staff salaries Administrative salaries... $ 5,000 10,000 40,000 10,000 35,000 125,000 page 797 Required 1. Prepare a contribution margin income statement for the year. 2. Compute contribution margin per unit and contribution margin ratio. Analysis Component 3. For each dollar of sales, how much is left to cover fixed costs and contribute to income