Required information The Foundational 15 (Algo) [LO6-1, LO6-3, LO6-4, LO6-5, LO6-6, LO6-7, LO6-8] [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) Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 70,000 38,500 31,500 23,310 $ 8,190 Foundational 6-3 (Algo) 3. What is the variable expense ratio? Variable expense ratio 4 %