Exercise 5-4 Computing and Using the CM Ratio (LO5-3) Last month when Holiday Creations, Inc., sold 40,000 units, total sales were $309,000, total variable expenses were $253,380, and fixed expenses were $39,900. 2020701 Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the estimated change in the company's net operating income if it can increase total sales by $1100? (Do not round intermediate calculations.) 1. Contribution margin ratio 2. Estimated change in net operating income