The Gasson Company sells three products, Product A, Product B and Product C, and had sales of $1,000,000 during the month of June.

The company's overall contribution margin ratio was 37% and fixed expenses totaled $350,000.

Sales were:

Product A, $500,000;

Product B, $300,000; and

Product C, $200,000.

Traceable fixed costs were:

Product A, $120,000;

Product B, $100,000; and

Product C, $60,000.

The variable expenses of Product A were $300,000 and the variable expenses of Product B were $180,000.

1.The net operating income for the company as a whole for June was

2.The contribution margin ratio for Product C is