Required information IThe 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): 65,000 Sales 45,500 Variable expenses 19,500 Contribution margin Fixed expenses 14,040 5,460 Net operating income 3. What is the variable expense ratio? Variable expense ratio