Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribedimage 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 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 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. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B Req 4 Req 1 Reg 2 Req Req 3B Req 4 The budgeted and actual sales mix percentages for different types of seats .123456 = 12.3456%)) Budgeted Sales Mix Actual Sales Mix Center Side Balcony Req 1 Reg 2 Req Req 3B Reg 4 The budgeted average contribution margin per seat. Assume the ticket price is also the answer to 2 decimal places.) Budgeted average contribution margin per seat Reg1 Reg 2 Reg 3A Reg 38 Reg 4 Reg 4 The total sales mix variance. (Round your answers to the nearest whole dollar am Sales Mix Variance Center Side Balcony Total Req 1 Reg 2 Req Req 3B Req 4 The total sales quantity variance. (Round your answers to the nearest whole doll Sales Quantity Variance Center Side Balcony Total Req 1 Reg 2 Req Req 3B Req 4 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

Step: 3

blur-text-image

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

Accounting Tools for business decision making

Authors: kimmel, weygandt, kieso

4th Edition

978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461

More Books

Students also viewed these Accounting questions

Question

3. Where is the job to be accomplished?

Answered: 1 week ago