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Question(s) / Instruction(s):

A tile manufacturer has supplied the following data:
Boxes of tiles produced and sold     520,000
Sales revenue                 $2,132,000
Variable manufacturing expense         $650,000
Fixed manufacturing expense         $464,000
Variable selling and admin expense     $260,000
Fixed selling and admin expense     $312,000
Net operating income             $446,000
The companys contribution margin ratio is closest to:
a)    42.7%
b)    57.3%
c)    45.8%
d)    21.0%

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