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Create a spreadsheet model for the following scenario. Put all input values and constants in labeled cells. Formulas should use cell references to those
Create a spreadsheet model for the following scenario. Put all input values and constants in labeled cells. Formulas should use cell references to those cells rather than typing a constant into the formula. A local farm opens up their land in the fall for two main sources of income: a pumpkin patch hayride and a large corn maze. The tickets for the hayride sell for $9, the corn maze tickets are $11, and a combination ticket sells for $18. There is also income from the bakery located in the entrance. On average, a visitor to the farm spends $6.00 in the bakery. The bakery's costs are 25% of what is sold. Each visitor doing the pumpkin patch hayride creates a $2 per visitor cost for part-time staff, maintenance, etc. Each visitor doing the corn maze costs the farm $2.50. There are also annual fixed costs of $79,000 for salaries and capital expense. Last year, 6800 tickets were sold. Compute tickets per category from total tickets using 25% are hayride tickets, 35% are corn maze tickets, and the rest are combination tickets. Create input cells for these %s. You should not have to change any formulas to answer these questions. If so, you haven't set up the model right. What is the profit with the original inputs? How many tickets do they need to sell in a year to break even? (round up to integer) Suppose corn was destroyed by a wind storm half way through the season. They only received part of their profit from corn maze then shifted to just hayride tickets. The net results is that the total number of tickets shifted to 5500, but 15% corn maze tickets, 20% combo tickets, and the rest hayride tickets. What would be profit? Answer by changing values in input cells.
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