The following costs result from the production and sale of 4,550 drum sets manufactured by Tom Thompson Company for the year ended December 31, 2013. The drum sets sell for $305 each.

The company has a 40% income tax rate. Variable production costs Plastic for casing $ 127,400 Wages of assembly workers 423,150 Drum stands 168,350 Variable selling costs Sales commissions 118,300 Fixed manufacturing costs Taxes on factory 9,500 Factory maintenance 19,000 Factory machinery depreciation 79,000 Fixed selling and administrative costs Lease of equipment for sales staff 19,000 Accounting staff salaries 69,000 Administrative management salaries 149,000 Required: 1. Prepare a contribution margin income statement for the company.2. Compute its contribution margin per unit.