Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Greensboro Performing Arts Center (GPAC) has a total capacity of 9,200 seats: 2,600 center seats, 3,100 side seats, and 3,500 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 9,200 seats: 2,600 center seats, 3,100 side seats, and 3,500 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 65 Center side Balcony 70 75 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. 13-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. Reg 1 Reg 2 Req 3A Req 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 Actual Sales Mix Center Side Balcony Budgeted average contribution margin per seat Sales Mix Variance Center Side Balcony Total Sales Quantity Variance Center Side Balcony Total 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

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

324300980, 978-0324300987

More Books

Students also viewed these Accounting questions