The Wyoming State Fair is one of the largest state fairs in the United States. A (Click the icon for additional information about the fair.) Celestial Concessions is a vendor at the fair. (Click the icon to view additional information about Celestial Concessions.) Read the requirements Assume the following schedule of fees for food vendors at the Wyoming State Fair: (Click the icon to view the schedule of fees.) ... Requirement 1. Of the fees listed in the schedule, which fees are variable with respect to the number of customers at the booth? Which fees are fixed? Fee Fixed/Variable - X Concession fees More info More info Electrical service Employee wages Fair admission fees Ground service fees Parking permit fees It draws nearly one million visitors over the fourteen-day period each July and August. The fair is a non-profit organization. It is self-supporting and needs, at a minimum, to break even by generating revenues through various activities. Among the sources of revenue for The Wyoming State Fair are the revenues generated from the food vendors. A number of food vendors offer a wide variety of fair foods to attendees, including funnel cakes, gyros, cotton candy, milkshakes, and corn dogs. $8 per linear foot for ground service fees (front footage x depth) 12% of concessions (food sales) $20 per 14-day parking permit $250 for 100-amp electrical service $60 per 14-day fair admittance pass (one is included with basic rental agreement) Requirements Print Done Print Done 1. Of the fees listed in the schedule, which fees are variable with respect to the number of customers at the booth? Which fees are fixed? 2. What is the projected total fee that Celestial Concessions will need to pay to The Wyoming State Fair assuming it meets its expected sales level for each of the 14 days of the fair? 3. Assume that variable costs are 60% of sales revenue. (This 60% includes the 12% concession fee charged by The Wyoming State Fair.) How much in total sales revenue is needed for Celestial Concessions to break even? 4. Calculate Celestial Concessions' margin of safety both in dollars and percentage - X More info It has a food booth that requires 17 feet of front frontage and is 11 feet deep. Celestial Concessions expects to have sales averaging $3,500 per day for each of the 14 days of the fair. It has a total of three employees who will work the fair throughout the entire 14-day period. Celestial Concessions pays for each employee's fair admission and parking. Assume that the employee wages for the 14-day period are expected to total $6,074. Print Done Print Done Help me solve this Video Get more help Clear all Check answer The Wyoming State Fair is one of the largest state fairs in the United States. A (Click the icon for additional information about the fair.) Celestial Concessions is a vendor at the fair. (Click the icon to view additional information about Celestial Concessions.) Read the requirements Assume the following schedule of fees for food vendors at the Wyoming State Fair: (Click the icon to view the schedule of fees.) ... Requirement 1. Of the fees listed in the schedule, which fees are variable with respect to the number of customers at the booth? Which fees are fixed? Fee Fixed/Variable - X Concession fees More info More info Electrical service Employee wages Fair admission fees Ground service fees Parking permit fees It draws nearly one million visitors over the fourteen-day period each July and August. The fair is a non-profit organization. It is self-supporting and needs, at a minimum, to break even by generating revenues through various activities. Among the sources of revenue for The Wyoming State Fair are the revenues generated from the food vendors. A number of food vendors offer a wide variety of fair foods to attendees, including funnel cakes, gyros, cotton candy, milkshakes, and corn dogs. $8 per linear foot for ground service fees (front footage x depth) 12% of concessions (food sales) $20 per 14-day parking permit $250 for 100-amp electrical service $60 per 14-day fair admittance pass (one is included with basic rental agreement) Requirements Print Done Print Done 1. Of the fees listed in the schedule, which fees are variable with respect to the number of customers at the booth? Which fees are fixed? 2. What is the projected total fee that Celestial Concessions will need to pay to The Wyoming State Fair assuming it meets its expected sales level for each of the 14 days of the fair? 3. Assume that variable costs are 60% of sales revenue. (This 60% includes the 12% concession fee charged by The Wyoming State Fair.) How much in total sales revenue is needed for Celestial Concessions to break even? 4. Calculate Celestial Concessions' margin of safety both in dollars and percentage - X More info It has a food booth that requires 17 feet of front frontage and is 11 feet deep. Celestial Concessions expects to have sales averaging $3,500 per day for each of the 14 days of the fair. It has a total of three employees who will work the fair throughout the entire 14-day period. Celestial Concessions pays for each employee's fair admission and parking. Assume that the employee wages for the 14-day period are expected to total $6,074. Print Done Print Done Help me solve this Video Get more help Clear all Check