Homework: Chapter 07 Graded Homework Question, E7-31A (similar to) Part 3 of 5 HW Score: 81.71%, 24.51 of 30 points Points: 3 of 7 @ Save The Colorado State Fair is one of the largest stale fairs in the United States (Click the icon for additional information about the fair.) Celestial Concessions is a vendor at the fair. (Click the icon to view additional information about Celestial Concessions.) Read the requirements Assure the following schedule of fees for food vendors at the Colorado State Fair: (Click the icon to view the schedule of fees.) --------- Parking permit fees Fixed Requirement 2. What is the projected total fee that Celestial Concessions will need to pay to The Colorado State Fair assuming it meets its expected sales level for each of the 14 days of the fair? S 5,880 Variable Fee: Concession fees Fixed Fee: Ground service fees Parking permit fees Electrical service $ 1.463 135 270 Fair admission fees 130 1.998 Total Fixed Fee S 7.878 Total Fee to The Colorado State Fair Requirement 3. Assume that variable costs are 60% of sales revenue. (This 60% includes the 12% concession fee charged by The Colorado State Fair.) How much in total sales revenue is needed for Celestial Concessions to break even? Identify the formula and then compute the breakeven point in dollars. (Complete all input fields. Enter a "O" for any zero amounts. Enter ratios, if any, as a decimal to two places, Xxx.) = Breakeven sales in dollars - Homework: Chapter 07 Graded Homew Score: 81.71%, 24.51 of 30 points Points: 3 of 7 @ Save More info The Colorado State Fair is one of the largest state fairs in the Ur (Click the icon for additional information about the fair.) the fair. information about Celestial Concessions.) ) Assume the following schedule of fees for food vendors at the cl i (Click the icon to view the schedule of fees.) It has a food booth that requires 19 feet of front frontage and is 11 feet deep. Celestial Concessions expects to have sales averaging $3,500 per day for each of the 14 days of the fair. It has a total of three employees who will work the fair throughout the entire 14-day period. Celestial Concessions pays for each srriployee's fair admission and parking. Assume that the employee wages for the 14-day period are expected to total $12,002. -.--.---...--.--- Parking permit fees Fixed Print Done Requirement 2. What is the projected total fee that Celestial Co of the 14 days of the fair? Variable Fee: Concesion for KANA Fix - X X More info More info It draws nearly one million visitors over the fourteen-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 Colorado 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 com dogs $7 per linear foot for ground service fees (front footage x depth) 12% of concessions (food sales) $45 per 14-day parking permit $270 for 100-amp electrical service $65 per 14-day fair admittance pass (one is included with basic rental agreement) Tot Toll Red sid ncessions to break even? Ide for Print Done Bre Print Done (
