A tile manufacturer has supplied the following data:
|
Boxes of tiles produced and sold |
580,000 |
|
Sales revenue |
$2,842,000 |
|
Variable manufacturing expense |
1,653,000 |
|
Fixed manufacturing expense |
784,000 |
|
Variable selling and administrative expense |
145,000 |
|
Fixed selling and administrative expense |
128,000 |
|
Net operating income |
$132,000 |
The company”s contribution margin ratio is closest to:
A) 29.4%
B) 4.7%
C) 63.3%
D) 36.7%