Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Waterman's WaterWorld Tourist Park has collected the following data for operations for the year: Total revenues Total fixed costs Total variable costs Total tickets
Waterman's WaterWorld Tourist Park has collected the following data for operations for the year: Total revenues Total fixed costs Total variable costs Total tickets sold Required: $ 2,000,000 $ 546,875 $ 1,125,000 50,000 a. What is the average selling price for a ticket? b. What is the average variable cost per ticket? Note: Round your final answer to 2 decimal places. c. What is the average contribution margin per ticket? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. d. What is the break-even point? Note: Do not round intermediate calculations. e. Waterman's management has decided that unless the operation can earn at least $140,000 in operating profits, they will close it down. What number of tickets must be sold for Waterman's to make a $140,000 operating profit for the year on ticket sales? Note: Do not round intermediate calculations. a. Average selling price per ticket b. Average variable cost per ticket c. Average contribution margin per ticket d. Break-even point tickets e. Number of tickets tickets
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