8 Exercise 5-4 Computing and Using the CM Ratio [LO5-3] 1.25 points Skipped eBook Hint Last month when Holiday Creations, Inc., sold 37,000 units, total sales were $310,000, total variable expenses were $260,400, and fixed expenses were $38,700. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the estimated change in the company's net operating income if it can increase total sales by $1,200? (Do not round intermediate calculations.) Print 1. Contribution margin ratio % References 2. Estimated change in net operating income Check my