A manufacturer of tiling grout has supplied the following data:

Kilograms produced and sold410,000Sales revenue$ 1,900,000Variable manufacturing expense$ 949,000Fixed manufacturing expense$ 244,000Variable selling and administrative expense$ 338,000Fixed selling and administrative expense$ 210,000Net operating income$ 159,000

The company's contribution margin ratio is closest to:

Multiple Choice

50.1%

32.3%

76.1%

82.2%