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For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales Food and packaging Payroll $23,400 $8,652 5,900 Occupancy (rent,
For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales Food and packaging Payroll $23,400 $8,652 5,900 Occupancy (rent, depreciation, etc.) 4,748 General, selling, and administrative expenses. 3,400 $22,700 $700 Income from operations 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 your answer to one decimal place. % c. How much would income from operations increase if same-store sales increased by $1,400 million for the coming year, with no change in the contribution marg or fixed costs? Round your answer to the closest million. million
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