A manufacturer of tiling grout has supplied the following data:

Kilograms produced and sold		410,000
Sales revenue	$	1,900,000
Variable manufacturing expense	$	949,000
Fixed manufacturing expense	$	244,000
Variable selling and administrative expense	$	338,000
Fixed selling and administrative expense	$	210,000
Net operating income	$	159,000

The company's contribution margin ratio is closest to:

• 76.1%

• 50.1%

• 32.3%

• 82.2%