Australians are expected to splurge A$7.88 billion on pet care services and products in the 2011-2012 financial year. How much are they spending on food per year, according to market research firm IBIS?

CNBC Bonus Bucks Answers for Monday, October 3, 2011 and CNBC Million Dollar Portfolio Challenge

1. Australians are expected to splurge A$7.88 billion on pet care services and products in the 2011-2012 financial year. How much are they spending on food per year, according to market research firm IBIS?

ANSWER: A$ 2.8 billion

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CNBC Portfolio Challenge Bonus Bucks Answers for Monday, October 3, 2011