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need requirements 2 through 4. It has a food booth that requires 13 feet of front frontage and is 16 feet deep. Galaxy Concessions expects
need requirements 2 through 4.
It has a food booth that requires 13 feet of front frontage and is 16 feet deep. Galaxy Concessions expects to have sales averaging $5,500 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. 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 $7,667. - \$11 per linear foot for ground service fees (front footage x depth) - 16% of concessions (food sales) - \$25 per 14-day parking permit - $340 for 100 -amp electrical service - \$65 per 14-day fair admittance pass (one is included with basic rental agreement) 2. What is the projected total fee that Galaxy Concessions will need to pay to The Florida 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 16% concession fee charged by The Florida 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 Florida Stame Fair is one of the largest state fairs in the United States (Click the icon for additional information about the fair) Assume the following schedule of foes for food vendors at the Flotida State Fair: (Click the icon fo view the schedule of fees) Galaxy Concessions is a vendor at the fair (1) (Click the icon to view additional information about Galaxy Concessions) Read the teguinensects Requirement 2. What is the projected total foe that Galaxy Concesslons will need to pay to The Florida State Fair assuming it meets its expected sales level for each of the 14 days of the fali Step by Step Solution
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