A manufacturer of tiling grout has supplied the following data: Kilograms produced and sold Sales revenue Variable manufacturing expense Fixed manufacturing expense Variable selling and administrative expense Fixed selling and administrative expense Net operating income 350,000 $1,900,000 $ 955,000 $ 256,000 $ 366,000 $ 222,000 $ 101,000 The company's contribution margin ratio is closest to: The company's contribution margin ratio is closest to Multiple Choice 30.5% 80.7% 49.7% 74.8%