A construction company has total revenues of $2,150,000, total construction costs of $1,756,000, and general overhead costs of $258,000 for the year. What are the contribution margin and the contribution margin ratio for the company if $123,000 of the overhead is considered variable overhead?

CM =$271,000, CM Ratio = 11.6 %

CM = $251,000, CM Ratio = 11.6 %

CM =$271,000, CM Ratio = 12.6 %

CM =$251,000, CM Ratio = 12.6 %