Melissa's Pie factory recorded the following information from last months operation: $560,000.00 Sales Cost of Sales $134,200.00 $425,800.00 Gross Profit Expenses $90,000.00 $60,000.00 $12,000.00 Salary Rent Marketing $12,000.00 Insurance $124,000.00 $45,000.00 $20,000.00 Hourly Wages Utilities Depreciation Total Expenses $363,000.00 $62,800.00 Net Profit The management at Melissa's classified Cost of Sales and Hourly Wages as Variable Costs. Salary, Rent, Insurance and Depreciation are classified as Fixed Costs. Marketing expense was split equally between FC and VC; and Utilities is split 40% FC and 60% VC. Using this information, calculate the following: What is the Variable Rate? Select one: a. .52 b. .48 c. .55 d. .98