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 10,080 Operating income $11,040 Required: 1. Calculate the contribution margin ratio. % 2. Calculate the variable cost ratio. % 3. Calculate the break-even sales revenue for Ashton