Elm, Inc. had the following income statement for the last period: Sales Cost of Sales (Manufacturing) Selling and General Administrative Net Income $50,000 24,000 6,000 $20,000 If the cost of sales was 75% variable and 25% fixed, and Selling and General Expense was 60% variable and 40% fixed. What is the contribution margin ratio? OA.0.723 OB. 0.568 OC.0.655 D.0.833

Elm, Inc. had the following income statement for the last period: Sales Cost of Sales (Manufacturing) Selling and General Administrative Net Income $50,00024,0006,000$20,000 If the cost of sales was 75% varisble and 25% fixed, and Selling and General Expense was 60% variable and 40% fixed. What is the contribution margin ratio? A. 0.723 B. 0.568 C. 0.655 D. 0.833