A recent income statement for Volkswagen reports the following (in € millions).
Sales | €105,187 |
Cost of sales | 91,608 |
Selling and administrative expenses | 13,276 |
Assume 70 percent of the cost of sales and 70 percent of the selling and administrative costs are variable costs, and the remaining 30 percent of each is fixed. Round all calculations involving percentages to the nearest whole euro (€).
Required
Compute the (1) gross margin, (2) contribution margin, and (3) manufacturing margin. Express your answers in € millions.
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