Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following...
Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions):
Sales $38,700
Food and packaging $11,180
Payroll 9,800
Occupancy (rent, depreciation, etc.) 10,960
General, selling, and administrative expenses 5,600
$37,540
Income from operations $1,160
Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses.
a. What is Wicker Company's contribution margin? Round to the nearest million. (Give answer in millions of dollars.) $ million
b. What is Wicker Company's contribution margin ratio? Round to one decimal place. %
c. How much would income from operations increase if same-store sales increased by $2,300 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the closest million.
Please show calculations
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Contribution Margin and Contribution Margin Ratio For a recent
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