Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Greensboro Performing Arts Center (GPAC) has a total capacity of 9,300 seats: 2,500 center seats, 3,000 side seats, and 3,800 balcony seats. The budgeted
The Greensboro Performing Arts Center (GPAC) has a total capacity of 9,300 seats: 2,500 center seats, 3,000 side seats, and 3,800 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: The actual ticket prices were the same as those budgeted. Once a show has been booked, the total cost does not vary with the tota attendance. Required: Compute the following for the show: 1. The budgeted and actual sales mix percentages for different types of seats. 2. The budgeted average contribution margin per seat. Assume the ticket price is also the contribution margin. 3-a. The total sales mix variance. 3-b. The total sales quantity variance. 4. The total sales volume variance. Answer is not complete. Complete this question by entering your answers in the tabs below. The budgeted and actual sales mix percentages for different types of seats. (Round your answers to 4 decimal places. (i.e. .123456=12.3456%)) Answer is not complete. Complete this question by entering your answers in the tabs below. The budgeted average contribution margin per seat. Assume the ticket price is also the contribution margin. (Round your answer to 2 decimal places.) Answer is not complete. Complete this question by entering your answers in the tabs below. The total sales mix variance. (Round your answers to the nearest whole dollar amount.) Answer is not complete. Complete this question by entering your answers in the tabs below. The total sales quantity variance. (Round your answers to the nearest whole dollar amount.) Answer is not complete. Complete this question by entering your answers in the tabs below. The total sales volume variance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started