The Johnson County Arts Foundation aims to promote the appreciation and practice of art in Johnson County
Question:
1. Issue lottery tickets ($50 each) for a “dream art vacation” for two to the “worldfamous museums of London and Paris.” The foundation estimates the cost of the vacation at $6,000.
2. Host a charity dinner, with each ticket costing $100. The caterer has offered the foundation a $2,000 discount of his usual price. Select donors (who are likely to give money in the future as well) would be recognized and honored during the dinner.
3. Conduct a silent auction for works by local artists. The artists and the foundation will share equally in the proceeds. The silent auction is a way for artists to gain exposure and potentially sell more of their work.
Required:
Identify the controllable benefits for each of three fund-raising options. Classify each benefit as being direct (D) or indirect (I) to the decision option. In addition, classify each revenue source as variable (V) or fixed (F).
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Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
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