Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Imaginationtime Park competes with Fun World by providing a variety of rides Imaginationtime sells tickets at $90 per person as a one day entrance fee

image text in transcribed
Imaginationtime Park competes with Fun World by providing a variety of rides Imaginationtime sells tickets at $90 per person as a one day entrance fee Variable costs are $18 por person and food costs are $464 400 per month Under these conditions, the breakeven point in tickets is 6,450 and the breakeven point in sales dollars is $580 500 Read the requirements Requirement 1. Suppose imaginationtime Puk cuts its ticket price from $90 to $72 to increase the number of tickets sold Computo me now troskoven point in tickets and in sales dollars Begin by selecting the formula labels and then entering the amounts to compute the number of tickets imaginationtime must see to break even under this scenario (Abbreviation used CM = contribution margin Complete all input fields. For items with a zero value, entor "0") Fixed costs Target prof. CM por unt = Required sales in units (S464.400 + 5 8.500 > $ 54 In Next, select the formula and then enter the amounts to calculate the sales in dollars imaginationtime noods to break even under this scenario (Abbreviation used CM contribution margin Enter the contribution margin ratio to the nearest percent X Complete all input fields For items with a zero value enter"0") 10/ Foxed costs Target profit) CM ratio Required sales in dollars

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Management Measuring Monitoring And Motivating Performance

Authors: Leslie G. Eldenburg, Susan Wolcott

1st Edition

0471205494, 978-0471205494

More Books

Students also viewed these Accounting questions

Question

Identify some cultural differences in dining practices.

Answered: 1 week ago