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For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales $33,900 Food and packaging $9,880 Payroll 8,500 Occupancy (rent,

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

Sales $33,900
Food and packaging $9,880
Payroll 8,500
Occupancy (rent, depreciation, etc.) 9,600
General, selling, and administrative expenses 4,900
$32,880
Income from operations $1,020image text in transcribedimage text in transcribed
Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales $33,900 Food and packaging $9,880 Payroll 8,500 Occupancy (rent, depreciation, etc.) 9,600 General, selling, and administrative expenses 4,900 $32,880 Income from operations $1,020 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.) $ 13,560 million b. What is Wicker Company's contribution margin ratio? Round to one decimal place. 19.5 X % c. How much would income from operations increase if same-store sales increased by $2,000 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the closest million. million Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales $33,900 Food and packaging $9,880 Payroll 8,500 Occupancy (rent, depreciation, etc.) 9,600 General, selling, and administrative expenses 4,900 $32,880 Income from operations $1,020 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.) $ 13,560 million b. What is Wicker Company's contribution margin ratio? Round to one decimal place. 19.5 X % c. How much would income from operations increase if same-store sales increased by $2,000 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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