Question: Problem 21-2A Contribution margin income statement and contribution margin ratio AI The following costs result from the production and sale of 1,000 drum sets

Problem 21-2A Contribution margin income statement and contribution margin ratio AI 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. Plate for casing $17.000 82.000 26.000 on factory Factoryantanance. Fachiny machinery depreciate $ 5.000 10.000 40.000 15,000 Lasse of ment for sales staf 10.000 Accounting staff sales 35.000 125.000 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 cach dollar of sales, how much is left to cover fixed costs and contribute to income? Page 797

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