Problem 18-1A Contribution margin income statement and contribution margin ratio LO A1 The following costs result from t

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Problem 18 1a Contribution Margin Income Statement And Contribution Margin Ratio Lo A1 The Following Costs Result From T 1 (40.99 KiB) Viewed 8 times

Problem 18 1a Contribution Margin Income Statement And Contribution Margin Ratio Lo A1 The Following Costs Result From T 2 (75.76 KiB) Viewed 8 times

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Problem 18-1A Contribution margin income statement and contribution margin ratio LO A1 The following costs result from the production and sale of 4,500 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum sets sell for $300 each. The company has a 35% income tax rate. Variable production costs Plastic for casing Wages of assembly workers Drum stands Variable selling costs Sales commissions Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative conta Lease of equipment for sales staff Accounting staff salaries Administrative management salaries $121,500 414,000 162,000 112,500 15,000 30,000 90,000 30,000 80,000 160,000 Required: 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? Complete this question by entering your answers in the tabs below.
Sales Variable costs: Total variable costs Contribution margin Fixed costs Total fixed costs TIGHT DRUMS COMPANY Contribution Margin Income Statement For Year Ended December 31, 2019
Sales Variable costs: TIGHT DRUMS COMPANY Contribution Margin Income Statement (partial) For Year Ended December 31, 2019 Total variable costs Contribution margin < Required 1 Per Unit
Required 1 Required 2 Required 3 For each dollar of sales, how much is left to cover fixed costs and contribute to operating Income? (Round your ans decimal places.) For each dollar of sales, how much is left to cover fixed costs and contribute to operating income? < Required 2 Required 2