A cement manufacturer has supplied the following data: 20 Tons of cement produced and sold Sales revenue Variable manufacturing expense Fixed manufacturing expense Variable selling and administrative expense Fixed selling and administrative expense Net operating income 275,000 $979,000 $232,000 $313,000 $110,650 $ 93,000 $230, 350 The company's contribution margin ratio is closest to: Multiple Choice 65.0% O 44.3% 23,5% 68.0%