A manufacturer of tiling grout has supplied the following data: Kilograms produced and sold 430,000 Sales revenue $ 1,880,000 Variable manufacturing expense $ 947,000 Fixed manufacturing expense $ 240,000 Variable selling and administrative expense $ 343,000 Fixed selling and administrative expense $ 206,000 Net operating income $ 144,000 The company's contribution margin ratio is closest to: Multiple Choice 49.6% 76.3% 81.8% 31.4%