Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Greensboro Performing Arts Center (GPAC) has a total capacity of 7,900 seats: 2,200 center seats, 2,700 side seats, and 3,000 balcony seats. The budgeted
The Greensboro Performing Arts Center (GPAC) has a total capacity of 7,900 seats: 2,200 center seats, 2,700 side seats, and 3,000 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Percentage Occupied Ticket Budgeted Actual Price Seats Seats $ 90 80% 85% 80 70 75 70 75 65 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-b. The total sales quantity variance. 4. 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