Exercise 5-4 Computing and Using the CM Ratio [LO 5-3] Last month when Holiday Creations, Inc., sold 38,000 units, total sales were $311,000, total variable expenses were $230,140, and fixed expenses were $39,000. Required 1. What is the company's contribution margin (CM) ratio? ontribution margin ratio Estimate the change in the company's net operating income if it were to increase its total sales by $2,600 2. Estimated change in net operating income Hints eBook & Resources Hint#1 Check my work