A manufacturer of tiling grout has supplied the following data: Kilograms produced and sold 320,000 Sales revenue $ 1,930,000 Variable manufacturing expense $ 958,000 Fixed manufacturing expense $ 262,000 Variable selling and administrative expense $ 358,000 Fixed selling and administrative expense $ 228,000 Net operating income $ 124,000 The company's contribution margin ratio is closest to: Multiple Choice 50.4% 81.5% 31.8% 74.6%