A recent income statement for Volkswagen reports the following (in € millions). Assume 70 percent of the cost of sales and 70 percent of the selling and administrative costs are variable costs, and the remaining 30 percent of each is fixed. Compute the contribution margin (in € millions). (Round computations using percentages to the nearest whole euro.)
|
Sales |
€105,187 |
|
Cost of sales |
91,608 |
|
Selling and administrative expenses |
13,276 |