It has a food booth that requires 13 feet of front frontage and is 11 feet deep. Lunar Concessions expects to have sales averaging $3,000 per day for each of the 14 days of the fair. It has a total of four employees who will work the fair throughout the entire 14-day period. Lunar Concessions pays for each employee's fair admission and parking. Assume that the employee wages for the 14-day period are expected to total $8.637. $11 per linear foot for ground service fees (front footage x depth) 18% of concessions (food sales) $65 per 14-day parking permit $240 for 100-amp electrical service $30 per 14-day fair admittance pass (one is included with basic rental agreement) 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? What is the projected total fee that Lunar Concessions will need to pay to The New York State Fair assuming it meets its expected sales level for each of the 14 days of the fair? 3. Assume that variable costs are 70% of sales revenue. (This 70% includes the 18% concession fee charged by The New York State Fair.) How much in total sales revenue is needed for Lunar Concessions to break even? 4. Calculate Lunar Concessions' margin of safety both in dollars and percentage. 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 Concession fees Electrical service Employee wages Fair admission fees Ground service fees Parking permit fees It has a food booth that requires 13 feet of front frontage and is 11 feet deep. Lunar Concessions expects to have sales averaging $3,000 per day for each of the 14 days of the fair. It has a total of four employees who will work the fair throughout the entire 14-day period. Lunar Concessions pays for each employee's fair admission and parking. Assume that the employee wages for the 14-day period are expected to total $8.637. $11 per linear foot for ground service fees (front footage x depth) 18% of concessions (food sales) $65 per 14-day parking permit $240 for 100-amp electrical service $30 per 14-day fair admittance pass (one is included with basic rental agreement) 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? What is the projected total fee that Lunar Concessions will need to pay to The New York State Fair assuming it meets its expected sales level for each of the 14 days of the fair? 3. Assume that variable costs are 70% of sales revenue. (This 70% includes the 18% concession fee charged by The New York State Fair.) How much in total sales revenue is needed for Lunar Concessions to break even? 4. Calculate Lunar Concessions' margin of safety both in dollars and percentage. 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 Concession fees Electrical service Employee wages Fair admission fees Ground service fees Parking permit fees