Rachel runs her own hot dog stand on the U of A campus. The monthly cost of the cart rental and business permit is $300. Rachel spends $0.50 on each hot dog sold, including bun and condiments. She sells each hot dog for $2.00. 1. What is the contribution margin per unit? 2. What is the contribution margin ratio? 3. Predict operating income for a month in which Rachel sells 1,000 hot dogs in 1. What is the contribution margin per unit? First identify the formula, then compute the contribution margin per unit. (Enter amounts to two decimal places.) Contribution margin per unit gr 2. What is the contribution margin ratio? pre First identify the formula, then compute the contribution margin ratio. (Enter the contribution margin ratio as a whole percent) Contribution margin ratio % Ste 3. Predict operating income for a month in which Rachel sells 1,000 hot dogs. to The forecasted operating income for a month in which Rachel sells 1,000 hot dogs is