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For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales $25,200 Food and packaging $9,760 Payroll 6,400 Occupancy (rent,

  1. For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions):

    Sales $25,200
    Food and packaging $9,760
    Payroll 6,400
    Occupancy (rent, depreciation, etc.) 4,580
    General, selling, and administrative expenses 3,700
    $24,440
    Income from operations $760

    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.) $ million

    b. What is Wicker Company's contribution margin ratio? Round to one decimal place. %

    c. How much would income from operations increase if same-store sales increased by $1,500 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the closest million. $ million

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