Trevor's Grout Company produces and sells grout to clients so they can install tile in their new homes. Trevor has supplied the following data about his grout company:

Kilograms (of grout) produced and sold		340,000
Sales revenue	$	1,910,000
Variable manufacturing expense	$	956,000
Fixed manufacturing expense	$	258,000
Variable selling and administrative expense	$	363,000
Fixed selling and administrative expense	$	224,000
Net operating income	$	109,000

Trevor's Grout Company's contribution margin ratio is closest to:

Garrison 16e Rechecks 2018-06-19

Multiple Choice

• 81.0%

• 30.9%

• 74.8%

• 49.9%