Contribution Margin Ratio, Variable Cost Ratio, Break-Even Sales Revenue The controller of Ashton Company prepared the following projected income statement: Sales $88,000 Total Variable cost 66,880 Contribution margin $21,120 Total Fixed cost 8,400 Operating income $12,720 Required: 1. Calculate the contribution margin ratio. % 2. Calculate the variable cost ratio. % 3. Calculate the break-even sales revenue for Ashton. $ 4. How could Ashton increase projected operating income without increasing the total sales revenue