2.5 points 1 Last month when Holiday Creations, Incorporated, sold 40,000 units, its sales, variable expenses, and fixed expenses were $160,000, $132,800, and $38,300, respectively. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the company's variable expense ratio? Note: Do not round intermediate calculations. > Answer is not complete. 1. Contribution margin ratio 2. Variable expense ratio 17 % %