Question 48 (Mandatory) (2 points) V Savea 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 Variables Expenses. Contribution Margin Fixed Expenses. $40,000 $12,000 $28,000 $21,000 Net Operating Income......... $7,000 What is the variable expense ratio? A) 50% B) 30% C) 60% D) 40%