Question: Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales $31,400 Food and

Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales $31,400 Food and packaging Payroll $12,240 7,900 Occupancy (rent, depreciation, etc.) 5,720 General, selling, and administrative expenses 4,600 $30,460 Income from operations $940 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.) 9,420 million b. What is Wicker Company's contribution margin ratio? Round your answer to one decimal place. % C. How much would income from operations increase million same-store sales increased by $1,900 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the closest million
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