Answer Happy

The following costs result from the production and sale of 4,700 drum sets manufactured by Tight Drums Company for the year ended December 31. The drum sets sell for $320 each. Variable costs Plastic for casing $ 145,700 Wages of assembly workers 451,200 Drum stands Sales commissions 188,000 136,300 Taxes on factory 8,000 Factory maintenance 16,000 Factory machinery depreciation 76,000 Lease of equipment for sales staff 16,000 Accounting staff salaries Administrative salaries 66,000 146,000 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 Fixed costs