Required information Skip to question The following information applies to the questions displayed below The River Valley Orchestra, which is managed by a small number of full time professional administrative staff, performs ensemble orchestra shows throughout the year Its conductor and musicians rehearse without pay and are only paid for actual performances The River Valley Orchestra has asked for your help in preparing a planning budget at the beginning of the year and evaluating actual expenses at the end of the year The orchestra plans to have one production for each season (Spring, Summer, Winter, and Fall) with a total of 22 performances For example, for the Summer production (a focus on classical music in films) they plan on having six performances After interviewing various people affiliated with the orchestra you have developed the following cost formulas for each of the eight expenses that will be included in the planning budget Cost Formulas Per Production Per Performance Fixed Conductor and musicians wages $ 6,600 Stagehands wages $ 850 Ticket booth personal and ushers wages $ 410 Scenery and wardrobe $ 9,400 Orchestra venue rent $ 1,800 Printed programs $ 425 Publicity $ 4,500 Administrative expenses $ 1,400 $ 96 $ 39,500 By the end of the year, The River Valley Orchestra actually put on four productions and a total of 26 performances The actual expenses incurred during the year were as follows Amount Conductor and musicians wages $ 175,700 Stagehands wages 20,200 Ticket booth personal and ushers wages 11,200 Scenery and wardrobe 40,900 Orchestra venue rent 44,700 Printed programs 10,700 Publicity 21,600 Administrative expenses 46,300 Conductor and musicians wages $ 371,300 Download the Excel file, which you will use to create some Tableau visualizations that compare the planning budget to the actual results Upload the Excel file into Tableau by doing the following Open the Tableau Desktop application On the left hand side, under the Connect header and the To a file sub header, click on Microsoft Excel Choose the Excel file and click Open Since the only worksheet in the Excel File is Performance Report it will default as a selection with no further import steps needed Create a bar chart that shows the spending variance (in dollars) for each of the eight expenses Double click on new sheet at the bottom of the workbook and change the name of the newly created Sheet 2 to Spending Variances In Dollars On the left hand side under Dimensions (sometimes labeled as Tables), double click on Expense On the left hand side under Measures, double click on Spending Variance Once youve done this click on the green pill that says SUM(Spending Variance ) and choose the drop down for format Once the format window pops up you should ensure you are on the Pane tab and under the Default sub header you should click the dropdown beside Numbers and choose Currency (Custom) and then change the decimal places to 0 Then you can click the x in the format pane window In the upper right hand corner, click on Show Me and choose the Horizontal bars option in the 1st column third row down Sort the bars descending by clicking on the Sort descending button () in the top row of buttons On the left hand side under Dimensions (sometimes labeled as Tables), click on Spending Variance (U F) and drag and drop it onto the Colors Marks card () On the left hand side under measures click on Spending Variance and drag and drop it onto the Label Marks card () To improve viewing, locate the Standard dropdown option in the menu bar at the top of the screen Click on that dropdown and choose Entire View Your visualization should appear as follows Required (Note that for all questions below you may select more than one answer Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer Any boxes left with a question mark will be automatically graded as incorrect ) 2a Which of the following offers a plausible interpretation of the publicity spending variance check all that apply 1 If we were to learn that the River Valley Orchestras revenue generated from ticket sales far exceeded expectations, then it suggests that the additional money spent on publicity was an unwise investment unanswered If we were to learn that the River Valley Orchestras revenue generated from ticket sales was much less than expected, then it suggests that the additional money spent on publicity was a wise investment unanswered If we were to learn that the River Valley Orchestras revenue generated from ticket sales far exceeded expectations, then it suggests that the additional money spent on publicity was a wise investment unanswered If we were to learn that the River Valley Orchestras revenue generated from ticket sales was much less than expected, then it suggests that the additional money spent on publicity was an unwise investment unanswered 2b Which of the following offers the most plausible interpretation of the orchestra venue rent spending variance check all that apply 2 Because the River Valley Orchestra conducted more performances than expected it might have been able to negotiate a lower rental rate on its additional performances unanswered Because the River Valley Orchestra conducted more performances than expected it might have been asked to pay a higher rental rate on its additional performances unanswered Even though the River Valley Orchestra conducted more performances than expected, it appears they paid a rental rate on its additional performances that must have been equal to the budgeted rental rate per performance unanswered Perhaps the actual rental rate that the River Valley Orchestra paid for all of its performances exceeded the budgeted rental rate per performance unanswered 2c Which of the following statements is true check all that apply 3 The conductor and musicians wages spending variance arises because the total actual amount of these wages is less than the amount that was expected to be paid for the actual number of performances unanswered The conductor and musicians wages spending variance arises because the total actual amount of these wages is greater than the amount that was expected to be paid for the actual number of performances unanswered The conductor and musicians wages spending variance arises because the River Valley Orchestras actual number of performances was greater than the budgeted number of performances unanswered The conductor and musicians wages spending variance arises because the total actual amount of these wages is greater than the amount that was expected to be paid for the budgeted number of performances

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 10, 2024

Required information Skip to question [The following information applies to the questions displayed below.] The River Valley Orchestra, which is managed by a small number

Required information

Skip to question

[The following information applies to the questions displayed below.] The River Valley Orchestra, which is managed by a small number of full-time professional administrative staff, performs ensemble orchestra shows throughout the year. Its conductor and musicians rehearse without pay and are only paid for actual performances. The River Valley Orchestra has asked for your help in preparing a planning budget at the beginning of the year and evaluating actual expenses at the end of the year. The orchestra plans to have one production for each season (Spring, Summer, Winter, and Fall) with a total of 22 performances. For example, for the Summer production (a focus on classical music in films) they plan on having six performances. After interviewing various people affiliated with the orchestra you have developed the following cost formulas for each of the eight expenses that will be included in the planning budget:

	Cost Formulas
	Per Production	Per Performance	Fixed
Conductor and musicians wages		$ 6,600
Stagehands wages		$ 850
Ticket booth personal and ushers wages		$ 410
Scenery and wardrobe	$ 9,400
Orchestra venue rent		$ 1,800
Printed programs		$ 425
Publicity	$ 4,500
Administrative expenses	$ 1,400	$ 96	$ 39,500

By the end of the year, The River Valley Orchestra actually put on four productions and a total of 26 performances. The actual expenses incurred during the year were as follows:

	Amount
Conductor and musicians wages	$ 175,700
Stagehands wages	20,200
Ticket booth personal and ushers wages	11,200
Scenery and wardrobe	40,900
Orchestra venue rent	44,700
Printed programs	10,700
Publicity	21,600
Administrative expenses	46,300
Conductor and musicians wages	$ 371,300

Download the Excel file, which you will use to create some Tableau visualizations that compare the planning budget to the actual results.

Upload the Excel file into Tableau by doing the following:

Open the Tableau Desktop application.
On the left-hand side, under the Connect header and the To a file sub-header, click on Microsoft Excel.
Choose the Excel file and click Open.
Since the only worksheet in the Excel File is Performance Report it will default as a selection with no further import steps needed

Create a bar chart that shows the spending variance (in dollars) for each of the eight expenses: Double click on new sheet at the bottom of the workbook and change the name of the newly created Sheet 2 to Spending Variances: In Dollars

On the left-hand side under Dimensions (sometimes labeled as Tables), double-click on Expense
On the left-hand side under Measures, double click on Spending Variance
- Once youve done this click on the green pill that says SUM(Spending Variance %) and choose the drop-down for format
- Once the format window pops up you should ensure you are on the Pane tab and under the Default sub header you should click the dropdown beside Numbers and choose Currency (Custom) and then change the decimal places to 0.
  - Then you can click the x in the format pane window
In the upper right-hand corner, click on Show Me and choose the Horizontal bars option in the 1st column third row down.
Sort the bars descending by clicking on the Sort descending button () in the top row of buttons
On the left-hand side under Dimensions (sometimes labeled as Tables), click on Spending Variance (U/F) and drag and drop it onto the Colors Marks card ().
On the left-hand side under measures click on Spending Variance and drag and drop it onto the Label Marks card ().
To improve viewing, locate the Standard dropdown option in the menu bar at the top of the screen. Click on that dropdown and choose Entire View.
Your visualization should appear as follows:

Required: (Note that for all questions below you may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) 2a. Which of the following offers a plausible interpretation of the publicity spending variance?

check all that apply 1

If we were to learn that the River Valley Orchestras revenue generated from ticket sales far exceeded expectations, then it suggests that the additional money spent on publicity was an unwise investment.unanswered
If we were to learn that the River Valley Orchestras revenue generated from ticket sales was much less than expected, then it suggests that the additional money spent on publicity was a wise investment.unanswered
If we were to learn that the River Valley Orchestras revenue generated from ticket sales far exceeded expectations, then it suggests that the additional money spent on publicity was a wise investment.unanswered
If we were to learn that the River Valley Orchestras revenue generated from ticket sales was much less than expected, then it suggests that the additional money spent on publicity was an unwise investment.unanswered

2b. Which of the following offers the most plausible interpretation of the orchestra venue rent spending variance? check all that apply 2

Because the River Valley Orchestra conducted more performances than expected it might have been able to negotiate a lower rental rate on its additional performances.unanswered
Because the River Valley Orchestra conducted more performances than expected it might have been asked to pay a higher rental rate on its additional performances.unanswered
Even though the River Valley Orchestra conducted more performances than expected, it appears they paid a rental rate on its additional performances that must have been equal to the budgeted rental rate per performance.unanswered
Perhaps the actual rental rate that the River Valley Orchestra paid for all of its performances exceeded the budgeted rental rate per performance.unanswered

2c. Which of the following statements is true? check all that apply 3

The conductor and musicians wages spending variance arises because the total actual amount of these wages is less than the amount that was expected to be paid for the actual number of performances.unanswered
The conductor and musicians wages spending variance arises because the total actual amount of these wages is greater than the amount that was expected to be paid for the actual number of performances.unanswered
The conductor and musicians wages spending variance arises because the River Valley Orchestras actual number of performances was greater than the budgeted number of performances.unanswered
The conductor and musicians wages spending variance arises because the total actual amount of these wages is greater than the amount that was expected to be paid for the budgeted number of performances.