Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Greensboro Performing Arts Center (GPAC) has a total capacity of 8,600 seats: 2,400 center seats, 2,900 side seats, and 3,300 balcony seats. The budgeted
The Greensboro Performing Arts Center (GPAC) has a total capacity of 8,600 seats: 2,400 center seats, 2,900 side seats, and 3,300 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows:
Percentage Occupied | |||||||||
Ticket Price | Budgeted Seats | Actual Seats | |||||||
Center | $ | 85 | 90 | % | 95 | % | |||
Side | 75 | 80 | 85 | ||||||
Balcony | 65 | 85 | 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:
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