A cement manufacturer has supplied the following data: Tons of cement sales revenue produced and sold 240,000 $944,000 variable manufacturing expense Fixed manufacturing expense variable selling and administrative expense Fixed selling and administrative expense $225,000 $292,000 $105,400 $ 86,000 $235,600 Net operating income The company's contribution margin ratio is closest to: Multiple Choice 45.2% 65.0% 69.1% 25.0%