A tile manufacturer has supplied the following data Boxes of tiles produced and sold Sales revenue Variable manufacturing expense Fixed manufacturing expense Variable selling and administrative expense 260,000 Fixed selling and administrative expense Net operating income 520,000 $2,132,000 650,000 464,000 312,000 446,000 The company's contribution margin ratio is closest to Multiple Choice 42.7% 5 73% 45.8% 21.0%