Evergreen Corporation manufactures circuit boards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below. Sales Cost of sales: Direct material $3,720,000 $522,000 Direct labor 360,000 Variable overhead 286,000 Fixed overhead 710,000 1,878,000 Gross profit $1,842,000 Selling and General & Admin. Exp. Variable 772,000 Fixed 272,000 1,044,000 Operating income $ 798,000 The contribution margin ratio for the current year is: Multiple Choice 44.9% 52.1%