Consider the following information for Festive Food Company: Check my work Sales $($units$)$ Revenue $ $65,400\mathrm{.}00$ Variable Costs $ $21,800\mathrm{.}00$ Operating income $545$ $ $13,500\mathrm{.}00$ References If FestiveFood increases sales price by $12\%$ but sales volume remains the same, what is the effect on contribution margin? Will contribution margin increase or decrease, and by what percent? Question Answer $\%1.$ What is the present contribution margin? Note: Round your answer to $2$ decimals. $2.$ What is the contribution margin if sales price increases $12\%$ but sales volume remains the same? Note: Round your answer to $2$ decimals. $3.$ How does the $12\%$ sales price increase impact the contribution margin? Will contribution margin increase, decrease, or no change? Note: Round your answer to $2$ decimals. $4.$ What is the contribution margin percent of change if the sales price increases $12\%?$