0 Data Table - The Chicago Panthers play in the American Ice Hockey League. (Click the icon to view the additional information.) The budgeted and actual average attendance figures per game in the 2017 season are as follows: (Click the icon to view the budgeted and actual average attendance figures.) There was no difference between th manager of the Panthers was unha especially given the booming state . The e, Read the requirements. Lower tier Budgeted Seats Sold Actual Seats Sold 5,000 3,700 7,500 6,300 Requirement 2. Compute the sales-quantity and sales-mix variances for each type of ticket and in total in 2017. Upper tier Let's first determine the formula for the sales-quantity variance, then calculate the variance for each type of ticket and in total in 2017. Label each variance as variances as positive numbers. Abreviation used: CM = contribution margin.) Enter all 12,500 10,000 Total Budgeted Budgeted Sales-quantity Actual (# of all tickets sold 10,000 Budgeted # of all tickets sold 12,500 sales-mix % x CM per ticket variance Print Done Lower-tier % x 14 Upper-tier 10,000 12,500 ) % x 1 The total sales-quantity variance is Now determine the formula for the sales-mix variance, then calculate the variance for each type of ticket and in total in 2017. Label each variance as fav as positive numbers. Abrreviation used: CM = contribution margin.) The Panthers play in the Downtown Arena, which is owned and managed by the City of Chicago. The arena has a capacity of 17,500 seats (6,000 lower-tier seats and 11,500 upper-tier seats). The arena charges the Panthers a per-ticket charge for use of its facility. All tickets are sold by the Reservation Network, which charges the Panthers a reservation fee per ticket. The Panthers' budgeted contribution margin for each type of ticket in 2017 is computed as follows: Lower-Tier Upper-Tier Tickets Tickets Actual Actual Sales-mix Budgeted CM per ticket # of all tickets sold sales-mix Budgeted sales-mix %) %) % - variance $ 32 $ 12 Lower-tier 10,000 % - 14 Selling price Downtown Arena fee 8 Upper-tier 10,000 11 7 % - % ) 3 Reservation Network fee $ 14 $ 1 Contribution margin per ticket Choose from any list or enter any number in the input fields and then continue to the next question. Print Done The Chicago Panthers play in the American Ice Hockey League. A Click the icon to view the additional information.) The budgeted and actual average attendance figures per game in the 2017 season are as follows: E (Click the icon to view the budgeted and actual average attendance figures.) There was no difference between the budgeted and actual contribution margin for lower-tier or upper-tier seats. The manager of the Panthers was unhappy that actual attendance was 20% below budgeted attendance per game, especially given the booming state of the local economy in the past six months. Read the requirements. # of all tickets sold # of all tickets sold ) x sales-mix % CM per ticket variance Lower-tier 10,000 12,500 % x 14 Upper-tier 10,000 12,500 % x The total sales-quantity variance is Now determine the formula for the sales-mix variance, then calculate the variance for each type of ticket and in total in 2017. Label each variance as favorable (F) or unfavorable (U). (Enter percentages as a whole number. Enter all variances as positive numbers. Abrreviation used: CM = contribution margin.) Actual Sales-mix Actual # of all tickets sold Budgeted CM per ticket sales-mix Budgeted sales-mix % ) % ) % - variance Lower-tier 10,000 % - 14 Upper-tier 10,000 % - %) 1 The total sales-mix variance is Requirement 3. Comment on the variance results from requirements 1 and 2. The Chicago Panthers average attendance by 20% per game. The net result: the actual contribution margin the budgeted contribution margin. was Choose from any list or enter any number in the input fields and then continue to the next