Part 1 of 13 Points: 0 of 20 Save The Chicago Wolves play in the American Ice Hockey League. (Click the icon to view the additional information.) The budgeted and actual average attendance figures per game in the 2017 season are as follows: 33 (Click the icon to view the budgeted and actual average attendance figures.) There was no difference between the budgeted and actual contribution margin for lower-tier or upper-tier seats. The manager of the Wolves was unhappy that actual attendance was 20% below budgeted attendance per game, especially given the booming state of the local economy in the past six months Read the requirements. Requirement 1. Compute the sales volume variance for each type of ticket and in total for the Chicago Wolves in 2017. (Calculate all variances in terms of contribution margins.) Determine the formula for sales volume variance, then compute the sales-volume variance for each type of ticket and in total for the Chicago Wolves in 2017. (Calculate all variances in terms of contribution margins.) Label each -variance as favorable (F) or unfavorable (U) (Enter all variances as positive numbers. Abbreviation used: qty = quantity.) Sales-volume variance The Wolves play in the Downtown Arena, which is owned and managed by the City of Chicago. The arena has a capacity of 17,500 seats (6,000 lower-tier seats and 11,500 upper-tier seats). The arena charges the Wolves a per-ticket charge for use of its facility. All tickets are sold by the Reservation Network, which charges the Wolves a reservation fee per ticket. The Wolves' budgeted contribution margin for each type of ticket in 2017 is computed as follows: Lower-Tier Upper-Tier Tickets Tickets Selling price 38 $ Downtown Arena fee 8 4. Reservation Network fee 6 3. Contribution margin per ticket 24 $ 4 Print Done Data table - Budgeted Seats Sold Actual Seats Sold Lower tier 5.000 Upper tier 7,500 3.600 6.400 Total 12,500 10.000 Print Done NNN 1. Compute the sales volume variance for each type of ticket and in total for the Chicago Wolves in 2017. (Calculate all variances in terms of contribution margins.) 2. Compute the sales-quantity and sales-mix variances for each type of ticket and in total in 2017 3. Comment on the variance results from requirements 1 and 2 Print Done