A fast-food restaurant features only three entree items on its menu with the following cost and selling prices: Item Cost Selling Price 1.20 $6.80 2...

$9.85

If 50 of each item are sold each day, what will the standard food cost percentage be? What is the contribution margin in dollars?

1. Standard FC as % of Sales: 35.1%

Contribution Margin in Dollars: $812.50

2.Standard FC as % of Sales: 36.1%

Contribution Margin in Dollars: $812.50

3.Standard FC as % of Sales: 36.1%

Contribution Margin in Dollars: $824.50