The company”s contribution margin ratio is closest to 1 answer below »

A manufacturer of cedar shingles has supplied the following data:

Bundles of cedar shakes produced and sold

280,000

Sales revenue

$2,072,000

Variable manufacturing expense

$1,134,000

Fixed manufacturing expense

$436,000

Variable selling and administrative expense

$238,000

Fixed selling and administrative expense

$164,000

Net operating income

$100,000

The company”s contribution margin ratio is closest to:

A) 66.2%

B) 73.0%

C) 27.0%

D) 33.8%