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Monty Theater Company is interested in estimating fixed and variable costs. The following data are available for the month of December: Number of Tickets Sold Cost 5,200 $400,680 $87,840 179,760 62,210 6,590 41,600 13,530 9,150 $400,680 *Author royalties/fees are fixed because the theater pays for the right to put on the play; royalties and fees are not paid based on the number of tickets sold. Your Answer Correct Answer Your answer is correct. Use account analysis to estimate fixed cost per month and variable cost per tickets sold [i.e., estimate a and bin the equation Cost = a + (b Sales)]. Assume the only variable cost in food and beverages. (Round variable cost per ticket sold to two decimal places, e.g. 15.25.) Cost = $ 359080 e Textbook and Media Solution Use account analysis to estimate fixed cost per month and variable cost per tickets sold [i.e., estimate a and bin the equation Cost = a + (b Sales)]. Assume the only variable cost in food and beverages. (Round variable cost per ticket sold to two decimal places, e.g. 15.25.) + $ 8.00 (b) Your Answer Correct Answer Assume that the selling price per ticket is $26. Additionally, on average each ticket holder spends $12 on food and beverages. Based on your answer to part a, what is your estimate of the contribution margin ratio at Monty Theater? (Round answer to 4 decimal places, e.g. 0.5212.) Estimated contribution margin ratio e Textbook and Media Solution Save for Later