TB MC Qu. 03-111 A manufacturer of cedar shingles... A manufacturer of cedar shingles has supplied the following data:
Bundles of cedar shakes produced and sold 262,000
Sales revenue $ 2,122,200
Variable manufacturing expense $ 975,200
Fixed manufacturing expense $ 487,000
Variable selling and administrative expense $ 260,400
Fixed selling and administrative expense $ 276,000
Net operating income $ 123,600"
The company's contribution margin ratio is closest to: (Do not round Intermediate calculations. Round your answer to whole percentage)
a) 42%
b) 34%
c) 66%
d) 58%