Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):

Sales	$	23,300
Variable expenses		13,100
Contribution margin		10,200
Fixed expenses		7,548
Net operating income	$	2,652

Required:

What is the variable expense ratio? (Round your answer to 2 decimal places.)

Variable expense ratio

% QA2