Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer and explain :) Camp Rainbow offers overnight summer camp programs for children ages 10 to 14 every summer during June and July. Each

image text in transcribedimage text in transcribed

please answer and explain :)

Camp Rainbow offers overnight summer camp programs for children ages 10 to 14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer: Suppose that Rainbow is contemplating staying open one additional week during the summer. Required: 1. Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $151 to attend the camp for a week. 2. Using the results of the least-squares regression analysis, prepare a contribution margin income statement for week 9 assuming Rainbow expects to have 104 campers that week. 3. Should Rainbow add a ninth week to its schedule? Complete this question by entering your answers in the tabs below. Using the results of the least-squares regression analysis, prepare a contribution margin income statement for week 9 assuming Rainbow expects to have 104 campers that week. Note: Round your intermediate calculations and final answer to 2 decimal places

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

Step: 3

blur-text-image

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

ISE Business Accounting Volume 1

Authors: Frank Wood, Alan Sangster

8th Edition

0273638394, 9780273638391

More Books

Students also viewed these Accounting questions