Analyze Adventure Park's staffing budget Adventure Park is a large theme park. Staffing for the theme park involves many different labor classifications, one of which is the parking lot staff. The parking lot staff collects parking fees, provides directions, and operates trams. The staff size is a function of the number of daily vehicles. Adventure Park has determined from historical experience that a staff member is needed for every 200 vehicles. Adventure Park estimates staff for both school days and nonschool days. Nonschool days are higher attendance days than school days. The number of expected vehicles for each day is as follows: School Days Nonschool Days Number of vehicles per day 3,000 8,000 Number of days per year 165 200 Parking fees are $10 per vehicle. Each parking lot employee is paid $110 per day. a. Determine the annual parking lot staff budget for school days, nonschool days, and total. School Days Nonschool Days Total Total parking lot staff expense $ b. Determine the annual parking revenue for school days, nonschool days, and total School Days Nonschool Days Total Total parking annual revenues $ c. If depreciation expense and other expenses for running the parking lot were estimated to be $2 million per year, determine the parking lot's budgeted profit. Budgeted parking lot profit
Analyze Adventure Park's staffing budget Adventure Park is a large theme park. Staffing for the theme park involves many different labor classifications, one of which is the parking lot staff. The parking lot staff collects parking fees, provides directions, and operates trams. The staff size is a function of the number of daily vehicles. Adventure Park has determined from historical experience that a staff member is needed for every 200 vehicles. Adventure Park estimates staff for both school days and nonschool days. Nonschool days are higher attendance days than school days. The number of expected vehicles for each day is as follows: School Days Nonschool Days Number of vehicles per day 3,000 8,000 Number of days per year 165 200 Parking fees are $10 per vehicle. Each parking lot employee is paid $110 per day. a. Determine the annual parking lot staff budget for school days, nonschool days, and total. School Days Nonschool Days Total Total parking lot staff expense $ b. Determine the annual parking revenue for school days, nonschool days, and total School Days Nonschool Days Total Total parking annual revenues $ c. If depreciation expense and other expenses for running the parking lot were estimated to be $2 million per year, determine the parking lot's budgeted profit. Budgeted parking lot profit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Analyze Adventure Park's staffing budget
Adventure Park is a large theme park. Staffing for the theme park involves many different labor classifications, one of which is the parking lot staff. The
parking lot staff collects parking fees, provides directions, and operates trams. The staff size is a function of the number of daily vehicles. Adventure Park has
determined from historical experience that a staff member is needed for every 200 vehicles.
Adventure Park estimates staff for both school days and nonschool days. Nonschool days are higher attendance days than school days. The number of
expected vehicles for each day is as follows:
School Days Nonschool Days
Number of vehicles per day
3,000
8,000
Number of days per year
165
200
Parking fees are $10 per vehicle. Each parking lot employee is paid $110 per day.
a. Determine the annual parking lot staff budget for school days, nonschool days, and total.
School Days
Nonschool Days
Total
Total parking lot staff expense $
b. Determine the annual parking revenue for school days, nonschool days, and total
School Days
Nonschool Days
Total
Total parking annual revenues $
c. If depreciation expense and other expenses for running the parking lot were estimated to be $2 million per year, determine the parking lot's budgeted
profit.
Budgeted parking lot profit
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