The Antwerp Lions play in the Flemish Football League. The Lions play in the Antwerp Stadium (owned and managed by the City of Antwerp), which has a capacity of 30 000 seats (10 000 lower tier seats and 20 000 upper-tier seats). The Antwerp Stadium charges the Lions a per-ticket charge for use of their facility. All tickets are sold by the Reservation Network, which charges the Lions a reservation fee per ticket. The Lions budgeted net revenue for each type of ticket in 2015 is calculated as follows:
_____________________________________Lower-tier tickets............Upper-tier tickets
Selling price..........................................................€35.............................€14
Antwerp Stadium fee................................................10................................6
Reservation Network fee............................................. 5................................3
Net revenue per ticket................................................20................................5
The budgeted and actual average attendance figures per game in the 2015 season are:
________________________________Budgeted seats sold...................Actual seats sold
Lower tier......................................................8 000.................................6 600
Upper tier....................................................12 000................................15 400
Total..........................................................20 000................................22 000
There was no difference between the budgeted and actual net revenue for lower-tier or upper-tier seats.
The manager of the Lions was delighted that actual attendance was 10% above budgeted attendance per game, especially given the depressed state of the local economy in the past six months.
Required
1 Calculate the sales-volume variance for individual 'product' net revenues and total net revenues for the Antwerp Lions in 2015.
2 Calculate the sales-quantity and sales-mix variances for individual 'product' net revenues and total net revenues in 2015.
3 Present a summary of the variances in requirements 1 and 2. Comment on the results.