A manufacturer of cedar shingles has supplied the following data: Bundles of cedar shakes produced and sold Sales revenue Variable manufacturing expense Fixed manufacturing expense Variable selling and administrative expense Fixed selling and administrative expense Net operating income The company's contribution margin ratio is closest to: 360,000 $ 2,412,000 $ 1,170,000 $ 714,000 $ 414,000 $ 82,000 $ 32,000 Multiple Choice 72.6% 65.7% 34.3% 27.4%