Wharton Men's Clothing's revenues and cost data for 2021 are as follows: (Click the icon to view the data.) Mr. Wharton, the owner of the store, is unhappy with the operating results. An analysis of other operating costs reveals that it includes $45,000 variable costs, which vary with sales volume, and $5,000 (fixed) costs. Required - X Requirements 1. Compute the contribution margin of Wharton Men's Clothing. compute the contribution margin of Wharton Men's 2. Compute the contribution margin percentage. 3. Mr. Wharton estimates that he can increase units sold and, hence, revenues by 25% by incurring additional advertising costs of $10,000. Calculate the impact of the additional advertising costs on operating income. 4. What other actions can Mr. Wharton take to improve operating income? mula to compute the contribution margin percentage. (Enter Print DoneData Revenues $ 450,000 Cost of goods sold (all variable costs) Gross margin 270,000 Operating costs: Salaries xed $ 130,000 Sales commissions (10% of sales) 45,000 Depreciation on equipment and xtures 19,000 Store rent ($3,000 per month) 36,000 Other operating costs Operating income (loss) 180,000 50,000 280,000 $ (10,000) ts FE putt