The following totals are used to create a CVP Income Statement for Frederick Company for FY2020:

Frederick Company
Selected Financial Figures
For the Year Ended 12/31/20
Sales (100 units)		$10,000
Variable Costs:
Direct Labor	$1,200
Direct Materials	1,100
Factory Overhead (variable)	2,000
Selling Expenses (variable)	600
Administrative Expenses (variable)	500
Fixed Costs:
Factory Overhead (fixed)	$1,000
Selling Expenses (fixed)	1,000
Administrative Expenses (fixed)	1,000

Frederick Company utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories. Use this information to determine FY 2020 Contribution Margin Ratio. Enter percentage to one decimal place. (example enter 35.5% as 35.5)