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For a recent year, McDonald's had the following sales and expenses (in millions):
Sales
$15,352
Food and packaging
$ 5,204
Payroll
4,040
Occupancy (rent, depreciation, etc.)
1,022
General, selling, and administrative expenses
2,220
$12,486
Income from operations
$ 2,866
Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses.
a. What is McDonald's contribution margin? Round to the nearest million.
b. What is McDonald's contribution margin ratio? Round to two decimal places.
c. How much would income from operations increase if same-store sales increased by $450 million for the coming year, with no change in the contribution margin ratio or fixed costs?
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