E7-29A (similar to) The New York State Fair is one of the largest state fairs in the United States. A (Click the icon for additional information about the fair.) Solar Concessions is a vendor at the fair. (Click the icon to view additional information about Solar Concessions.) Read the requirements. Assume the following schedule of fees for food vendors at the New York State Fair: (Click the icon to view the schedule of fees.) Requirement 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? Fee Fixed/Variable i More Info Requirements Concession fees Electrical service Employee wages Fair admission fees Ground service fees Parking permit fees 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 Solar Concessions will need to pay to The New York State Fair assuming it meets its expected sales level for each of the 15 days of the fair? 3. Assume that variable costs are 80% of sales revenue. (This 80% includes the 14% concession fee charged by The New York State Fair.) How much in total sales revenue is needed for Solar Concessions to break even? 4. Calculate Solar Concessions' margin of safety both in dollars and percentage. It draws nearly one million visitors over the fifteen-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, gyros, cotton candy, milkshakes, and corn dogs. Print Done i i More Info More Info $11 per linear foot for ground service fees (front footage x depth) 14% of concessions (food sales) $20 per 15-day parking permit $330 for 100-amp electrical service $40 per 15-day fair admittance pass (one is included with basic rental agreement) It has a food booth that requires 14 feet of front frontage and is 16 feet deep. Solar Concessions expects to have sales averaging $3,500 per day for each of the 15 days of the fair. It has a total of three employees who will work the fair throughout the entire 15-day period. Solar Concessions pays for each employee's fair admission and parking. Assume that the employee wages for the 15-day period are expected to total $5,066. Print Done Print Done Choose from any dron-down list and then click Check