Required information

The Foundational $15($Algo$)[$LO$6-1,$ LO$6-3,$ LO$6-4,$ LO$6-5,$ LO$6-6,$ LO$6-7,$ LO$6-8]$

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$[$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 $ $75,000$

Variable expenses $45,000$

Contribution margin $30,000$

Fixed expenses $22,800$

Net operating income $ $7,200$

Foundational $6-2($Algo$)$

$2.$ What is the contribution margin ratio?Required information

The Foundational $15($Algo$)[$LO$6-1,$ LO$6-3,$ LO$6-4,$ LO$6-5,$ LO$6-6,$ LO$6-7,$ LO$6-8]$

$[$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$)$:

Foundational $6-2($Algo$)$

What is the contribution margin ratio?