A cement manufacturer has supplied the following data: Tons of cement produced and sold 245,000 Sales revenue $ 949,000 Variable manufacturing expense $ 226,000 Fixed manufacturing expense $ 295,000 Variable selling and administrative expense $ 153,600 Fixed selling and administrative expense $ 87,000 Net operating income $ 187,400 The company's contribution margin ratio is closest to: Multiple Choice 45.1% 19.7% 60.0% 68.9%