S7-1 (similar to) Live It Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast of the United States including Charleston, Baltimore, and Alexandria. Dinner Cruise tickets sell for $80 per passenger. Live It Cruiseline's variable cost of providing the dinner is $40 per passenger, and the fixed cost of operating the vessels (depre salaries, docking fees, and other expenses) is $240,000 per month. The company's relevant range extends to 20,000 monthly passengers a. What is the contribution margin per passenger? First identify the formula, then compute the contribution margin per passenger Contribution margin per passenger Ques 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 17,000 passengers. d. Use the contribution margin ratio to project operating income if monthly sales revenue totals $515,000