ition Margin and Contribution Margin Ratio For a recent year, McDonald's (MCD) company-owned restaurants had the following sales and expenses (in Millions): Sales $23,500 Food and packaging $(7,310) Payroll (5,900) Occupancy (rent, depreciation, etc.) (6,190) General, selling, and administrative expenses (3,400) $(22,800) Operating income $700 Assume that the variable costs consist of food and packaging, payroit, and 40% of the general, selling, and administrative expenses a. What is McDonald's contribution margin? Round to the nearest million. (Give answer in millions of dollars.) x million b. What is McDonald's contribution margin ratio? c. How much would operating income increase if same-store sales increased by $1,400 million for the coming year, with no change in the contribution marginator fixed costs? Round your answer to the closest million. x million Feeder Check My Work 3. Sales minus total variable costs equais contribution margin (e. Check My Work 2 more Check My Wortes remaining Afring All work saved