Saved Help Save & Exit Submit A cement manufacturer has supplied the following data: Tons of cement produced and sold 225, 000 Sales revenue $929, 000 Variable manufacturing expense $298, 000 Fixed manufacturing expense $283, 000 Variable selling and administrative expense $166, 500 Fixed selling and administrative expense $ 83, 000 Net operating income $ 98, 500 The company's contribution margin ratio is closest to: Multiple Choice 37.5% 50.0% 69.5% 10.6%