prehensive Problem Question 1, E15-25 (similar to) Part 6 of 13 The Chicago Penguins 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 2020 season are as follows: (Click the icon to view the budgeted and actual average attendance figures.) HW Score: 35.19%, 7.04 of 20 points Points: 7.04 of 20 Save There was no difference between the budgeted and actual contribution margin for lower-tier or upper-tier seats. The manager of the Penguins was unhappy that actual attendance was 20% below budgeted attendance per game, especially given the booming state of the local economy in the past 6 months. Read the requirements. Requirement 1. Compute the sales-volume variance for each type of ticket and in total for the Chicago Penguins in 2020. (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 Penguins in 2020. (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 ( Actual sales qty in units Lower-tier Upper-tier ( 3,200 6,800 Budgeted sales qty in units ) 5,000 ) $ 7,500 Budgeted CM per ticket 19 = variance = $ 34,200 U ) x 8 = $ 5,600 U The total sales-volume variance is $ 39,800 U Requirement 2. Compute the sales-quantity and sales-mix variances for each type of ticket and in total in 2020. Let's first determine the formula for the sales-quantity variance, then calculate the variance for each type of ticket and in total in 2020. Label each variance as favorable (F) or Requirement 2. Compute the sales-quantity and sales-mix variances for each type of ticket and in total in 2020. Let's first determine the formula for the sales-quantity variance, then calculate the variance for each type of ticket and in total in 2020. Label each variance as favorable (F) or unfavorable (U). (Enter percentages as a whole number. Enter all variances as positive numbers. Abrreviation used: CM = contribution margin.) Actual ( # of all tickets sold Budgeted # of all tickets sold Budgeted ) sales-mix % x Budgeted CM per ticket Sales-quantity variance Lower-tier ) x % x More info The Penguins 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 Penguins a per-ticket charge for use of its facility. All tickets are sold by the Reservation Network, which charges the Penguins a reservation fee per ticket. The Penguins' budgeted contribution margin for each type of ticket in 2020 is computed as follows: ason are as There was no difference between the budgeted and actual contribution margin for lower-tier or upper-tier seats. The manager of the Penguins was unhappy that actual attendance was 20% below budgeted attendance per game, especially given the booming state of the local economy in the past 6 months. Data table Lower-Tier Tickets Upper-Tier Tickets Budgeted Seats Sold Actual Seats Sold ution margins.) Selling price $ 35 $ 15 Lower tier Upper tier 5,000 3,200 culate all = quantity.) 7,500 6,800 Downtown Arena fee 9 5 12,500 10,000 Total 2 Reservation Network fee $ 19 $ 8 Contribution margin per ticket Print Done Print Done the variance for each type of ticket and in total in 2020. Label each variance as favorable (F) or Requirements 1. Compute the sales-volume variance for each type of ticket and in total for the Chicago Penguins in 2020. (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 2020. 3. Comment on the variance results from requirements 1 and 2. Print Done -