Chapter 2 Assignment 2 Part 2 of 10 0.5 points eBook Print References ! Required information The Foundational 15 (Algo) [LO2-1, LO2-3, LO2-4, LO2-5, LO2-6, LO2-7, LO2-8] [The following information applies to the questions displayed below.] Saved Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating income Foundational 2-2 (Algo) Required: 2. What is the contribution margin ratio? Contribution margin ratio % $ 80,000 52,000 28,000 21,840 $ 6,160