Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Wyoming Waters Swim Park sells individual and family tickets. With a ticket, each person receives a meal, three beverages, and unlimited use of the swimming
Wyoming Waters Swim Park sells individual and family tickets. With a ticket, each person receives a meal, three beverages, and unlimited use of the swimming pools. Wyoming Waters has the following ticket prices and variable costs for the year: B (Click the icon to view the data.) Wyoming Waters expects to sell one individual ticket for every four family tickets. Wyoming Waters' total fixed costs are $46,000. Read the requirements Requirement 1. Compute the weighted average contribution margin per ticket. Complete the table below to calculate the weighted average contribution margin. (Round the weighted average contribution margin per unit to the nearest cent.) Individual Family Total Contribution margin Weighted average contribution margin per unit Requirement 2. Calculate the total number of tickets Wyoming Waters must sell to break even. Start by selecting the formula and entering the amounts to calculate the total number of tickets Wyoming Waters must sell to break even. (Abbreviations used: Weighted avg. CM = weighted average contribution margin. Complete all input fields. For items with a zero value, enter "O".) ) Required sales in units Requirement 3. Calculate the number of individual tickets and the number of family tickets the company must sell to break even. Data Table Requirements = Breakeven sales of tickets Individual Individual Family Family $ 35 $ Sale price per ticket Variable cost per ticket 105 80 1. Compute the weighted average contribution margin per ticket 2. Calculate the total number of tickets Wyoming Waters must sell to break even. 3. Calculate the number of individual tickets and the number of family tickets the company must sell to break even. 20 Print Done Print Print Done
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