Peeler's Smoothie Company Has Provided the Following Information Calculate the Contribution Margin Ratio

Multiple Choice

Peeler's Smoothie Company has provided the following information: $$\begin{array} { | l | r | } \hline \text { Sales price per unit } & \$ 5.50 \\\hline \text { Variable cost per unit } & \$ 2.50 \\\hline \text { Fixed costs per month } & \$ 1000 \\\hline\end{array}$$ Calculate the contribution margin ratio.(Round your answer to two decimal places.)

A) 120%
B) 20%
C) 45.45%
D) 54.55%