Required information [The following information applies to the questions displayed below.) 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 Variable expenses $ 26,000 14,00 Contribution margin Fixed expenses 12,000 7,800 Net operating income $ 4.200 3. What is the variable expense ratio? Round your percentage answer to 2 decimal places fi.e 1234 should be entered as 12.34) % Variable expense ratio