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A cement manufacturer has supplied the following data: Tons of cement produced and sold 305,000 Sales revenue $ 1,009,000 Variable manufacturing expense $ 238,000 Fixed
A cement manufacturer has supplied the following data:
| Tons of cement produced and sold | 305,000 |
|---|---|
| Sales revenue | $ 1,009,000 |
| Variable manufacturing expense | $ 238,000 |
| Fixed manufacturing expense | $ 331,000 |
| Variable selling and administrative expense | $ 115,150 |
| Fixed selling and administrative expense | $ 99,000 |
| Net operating income | $ 225,850 |
The company's contribution margin ratio is closest to:
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