(Click the icon for additional information about the fair.) Assume the following schedule of fees for food vendors at the New York State Fair: (Click the icon to view the schedule of fees.) $9 per linear foot for ground service fees (front footage x depth) 12% of concessions (food sales) $65 per 10-day parking permit $280 for 100-amp electrical service $40 per 10-day fair admittance pass (one is included with basic rental agreement) Electrical service Fixed Employee wages Fixed Fair admission fees Fixed Ground service fees Fixed Parking permit fees Fixed Print Done Requirement 2. What is the projected total fee that Galaxy Concessions will need to pay to The New York State Fair assuming it meets its expected sales level for each of the 10 days of the fair Variable Fee: Concession fees Fixed Fee: Ground service fees Requirements Parking permit fees Electrical service Fair admission fees Total Fixed Fee Total Fee to The New York State Fair More info It draws nearly one million visitors over the ten-day period each July and August. The fair is a non-profit organization. It is self-supporting and needs, at a minimum, to break even by generating revenues through various activities. Among the sources of revenue for The New York State Fair are the revenues generated from the food vendors. A number of food vendors offer a wide variety of fair foods to attendees. including funnel cakes. avros. cotton candy. milkshakes. and corn - 1. Of the fees listed in the schedule, which fees are variable with respect to the number of customers at the booth? Which fees are fixed? 2. What is the projected total fee that Galaxy Concessions will need to pay to The New York State Fair assuming it meets its expected sales level for each of the 10 days of the fair? 3. Assume that variable costs are 70% of sales revenue. (This 70% includes the 12% concession fee charged by The New York State Fair.) How much in total sales revenue is needed for Galaxy Concessions to break even? 4. Calculate Galaxy Concessions' margin of safety both in dollars and percentage. Print Done