A cement manufacturer has supplied the following data: 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 280,000 984,000 $ 233,000 $ 316,000 $ 190, 120 $ 94,000 $ 150,880 The company's contribution margin ratio is closest to: Multiple Choice 44.2% 67.9%