Great Cruiseline offers nightly dinner cruises departing from several cities on the East Coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise tickets sell for $80 per passenger. Great Cruiseline's variable cost of providing the dinner is $40 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $240,000 per month. The company's relevant range extends to 17,000 monthly passengers. Use this information to compute the following: a. What is the contribution margin per passenger? b. What is the contribution margin ratio? c. Use the unit contribution margin to project operating income if monthly sales total 14,000 passengers. d. Use the contribution margin ratio to project operating income if monthly sales revenue totals $515,000. a. What is the contribution margin per passenger? First identify the formula, then compute the contribution margin per passenger. Sales price per passenger Variable cost per passenger = Contribution margin per passenger 40 40 80 b. What is the contribution margin ratio? (Enter the contribution margin ratio as a whole percent.) First identify the formula, then compute the contribution margin ratio. Contribution margin per passenger 40 Sales price per passenger 80 Contribution margin ratio 50% c. Use the unit contribution margin to project operating income if monthly sales total 14,000 passengers. The operating income is 320000 d. Use the contribution margin ratio to project operating income if monthly sales revenue totals $515,000. The operating income is 17500 Great Cruiseline offers nightly dinner cruises departing from several cities on the East Coast of the United States including Charleston, Baltimore, and Alexandria. Dinner cruise tickets sell for $80 per passenger. Great Cruiseline's variable cost of providing the dinner is $40 per passenger, and the fixed cost of operating the vessels (depreciation, salaries, docking fees, and other expenses) is $240,000 per month. The company's relevant range extends to 17,000 monthly passengers. Use this information to compute the following: a. What is the contribution margin per passenger? b. What is the contribution margin ratio? c. Use the unit contribution margin to project operating income if monthly sales total 14,000 passengers. d. Use the contribution margin ratio to project operating income if monthly sales revenue totals $515,000. a. What is the contribution margin per passenger? First identify the formula, then compute the contribution margin per passenger. Sales price per passenger Variable cost per passenger = Contribution margin per passenger 40 40 80 b. What is the contribution margin ratio? (Enter the contribution margin ratio as a whole percent.) First identify the formula, then compute the contribution margin ratio. Contribution margin per passenger 40 Sales price per passenger 80 Contribution margin ratio 50% c. Use the unit contribution margin to project operating income if monthly sales total 14,000 passengers. The operating income is 320000 d. Use the contribution margin ratio to project operating income if monthly sales revenue totals $515,000. The operating income is 17500