What is the contribution margin, Accounting Basics

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What is the contribution margin

Please answer the following question:

Question 1: Consider the following data: fixed costs = $10 million, variable cost per inpatient day = $400, and revenue per inpatient day = $1,200. What is the contribution margin?

Question 2: Assume the following cost and revenue data for General Hospital: fixed costs = $15 million, variable cost per inpatient day = $250, and revenue per inpatient day = $1,000. What is the expected profit at a volume of 25,000 inpatient days?

Note: Please provide through step by step calculations.

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Accounting Basics: What is the contribution margin

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