Problem 5-1A Contribution margin income statement and contribution marg in ratio LO A1 13 polnts The following costs result from the production and sale of 5,000 drum sets manufactured by Tight Drums Company for the year endod December 31, 2017. The drum sets sell for $350 each. The company has a 25% income tax rate. Plastic for easing Rages of assembly vorkers Drm stands $185,000 510,000 230,000 eBook Variable selling costs 175, 000 Ask Pixed manufacturing costs Taxes on factory 5,000 10, 000 70,000 Pint Pixed selling and administrative eosts Lease of equipment for sales stafE 10,000 60,000 140,000 eferences Required: 1. Prepare a contribution margin income statement for the company 2 Compute Its contribution margin per unit and its contribution margin ratio. below Complete this question by entering your answers in the tabs Required 1 Required 2 Prepare a contribution margin income statement for the company. TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31, 2017 Sales Variable costs