need help with req 3

Augustine Glaygbe 02/25/22 12:49 PM pre info Question 6, E7-31A (similar to) Part 3 of 5 > HW Score: 38.78%, 38.78 of 100 points Points: 4.11 of 8 Save More info jbout Galaxy Concessions.) $5 per linear foot for ground service fees (front footage x depth) 18% of concessions (food sales) $30 per 14-day parking permit $250 for 100-amp electrical service $30 per 14-day fair admittance pass (one is included with basic rental agreement) 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 New Hampshire 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 Print Done More info It has a food booth that requires 17 feet of front frontage and is 8 feet deep Galaxy Concessions expects to have sales averaging $5.000 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 Galaxy Concessions pays for each employee's fair admission and parking. Assume that the employee wages for the 14-day period are expected to total $9.660 The New Hampshire State Fair a 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 Galaxy Concessions will need to pay to The New Hampshire 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 Hampshire State Fair.) How much in total sales revenue is needed for Galaxy Concessions to break even? 4. Calculate Galaxy Concessions' margin of safety both in dollars and percentage The New Hampshire State Fair is one of the largest state fairs in the United States, (Click the icon for additional information about the fair.) Galaxy Concessions is a vendor at the fair. (Click the icon to view additional information about Galaxy Concessions.) Read the requirements Assume the following schedule of fees for food vendors at the New Hampshire 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 Concession fees Variable Electrical service Fixed Fixed Employee wages Fixed Fair admission fees Ground service fees Fixed Parking permit fees Clear all Part 3 of 5 Points: 4.11 of 8 Sa The New Hampshire State Fair is one of the largest state fairs in the United States (Click the icon for additional information about the fair) Galaxy Concessions is a vendor at the fair (Click the icon to view additional information about Galaxy Concessions.) Assume the following schedule of fees for food vendors at the New Hampshire State Fair. (Click the icon to view the schedule of fees.) Read the requirements Requirement 2. What is the projected total fee that Galaxy Concessions will need to pay to The New Hampshire State Fair assuming it meets its expected sales level for each of the 14 days of the fair? Variable Fee Concession fees S 12.600 Fixed Fee Ground service fees S 680 Parking permit fees 120 Electrical service 250 Fair admission fees 1.140 Total Fixed Fee Clear all Chec The New Hampshire State Fair is one of the largest state fairs in the United States. (Click the icon for additional information about the fair.) Galaxy Concessions is a vendor at the fair. (Click the icon to view additional information about Galaxy Concessions.) Assume the following schedule of fees for food vendors at the New Hampshire State Fair. (Click the icon to view the schedule of fees) Read the requirements. Fair admission fees Total Fixed Fee $ S Total Fee to The New Hampshire State Fair 13.740 Requirement 3. Assume that variable costs are 70% of sales revenue (This 70% includes the 18% concession fee charged by The New Hampshire State Fair.) How much in total sales revenue is needed for Concessions to break even? identify the formula and then compute the breakeven point in dollars (Complete all input fields Enter a "0" for any zero amounts Enter ratios. If any as a decimal to two places, XXX a Fixed expenses Operating income Contribution margin ratio Breakeven sales in dollars