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

Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned

Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales Food and packaging Payroll $29,700 $10,976 7,500 Occupancy (rent, depreciation, etc.) 6,034 General, selling, and administrative expenses 4,300 $28,810 Income from operations $890 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.) 9,504 million b. What is Wicker Company's contribution margin ratio? Round your answer to one decimal place. 32 c. How much would income from operations increase if same-store sales increased by $1,800 million for the coming year, with no change in the contribution margin ratio cor fixed costs? Round your answer to the closest million. milion

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