Last month when Holiday Creations, Incorporated, sold 40.000 units, total sales were $160,000, total variable expenses were $134,400, and fixed expenses were $38,500 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 sales volume by 300 units and totalasty $1,200? (Do not round intermediate calculations.) Answer is complete but not entirely correct. % 1. Contribution margin ratio 2. Estimated change in net operating income 16 4503 $