12. A fast-food restaurant features only three entre items on its menu with the following cont and selling prices: Item Cost Selling price 1 $2.20 $6.80 2 3.25 8.80 3 3.75 9.85 a. For each item calculate the food cost. b. If 50 of each item are sold each day, what will the standard food cost percentage be? What is the contribution margin in dollars? 12. A fast-food restaurant features only three entre items on its menu with the following cont and selling prices: Item Cost Selling price 1 $2.20 $6.80 2 3.25 8.80 3 3.75 9.85 a. For each item calculate the food cost. b. If 50 of each item are sold each day, what will the standard food cost percentage be? What is the contribution margin in dollars