A tile manufacturer has supplied the following data: Boxes of tiles produced and sold 520,000Sales revenue$2,132,000Variable manufacturing expense$650,000Fixed manufacturing expense$464,000Variable selling and administrative expense$260,000Fixed selling and administrative expense$312,000Net operating income$446,000 The company's contribution margin ratio is closest to:
A. 45.8%
B. 42.7%
C. 57.3%
D. 21.0%
Answer: C
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