Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Greensboro Performing Arts Center (GPAC) has a total capacity of 9.000 seats: 2.600 center seats, 3,100 side seats, and 3.300 balcony seats. The budgeted

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

The Greensboro Performing Arts Center (GPAC) has a total capacity of 9.000 seats: 2.600 center seats, 3,100 side seats, and 3.300 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Percentage Occupied Budgeted Actual Seats Seats 85% 70 75 75 65 Ticket Price $ 115 185 95 Center Side Balcony The actual ticket prices were the same as those budgeted. Once a show has been booked, the total cost does not vary with the total 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. 3-5. The total sales quantity variance. 4. The total sales volume variance. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3A Reg 3B Reg 4 The budgeted and actual sales mix percentages for different types of seats. (Round your answers to 4 decimal places. (i.e. .123456 = 12.3456%)) Budgeted Sales Mix 96 Actual Sales Mix 9% Center Side % 96 Balcony % The total sales volume variance. Sales Volume Variance Center Side Balcony Total

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_2

Step: 3

blur-text-image_3

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

Financial Accounting Theory

Authors: William R Scott

5th Edition

0132072866, 978-0132072861

More Books

Students also viewed these Accounting questions

Question

Define Management or What is Management?

Answered: 1 week ago

Question

What do you understand by MBO?

Answered: 1 week ago

Question

What is meant by planning or define planning?

Answered: 1 week ago

Question

Define span of management or define span of control ?

Answered: 1 week ago