Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 104,000 one-day admission tickets with an average price of $141 and 38,000 three-day admission tickets with an average price of $312. The park management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase by 4 percent. At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level and three-day ticket prices that are 10 percent lower than the current price. Required: Estimate admission revenues for Bramell Park for the coming year. Note: Do not round your Intermediate calculations. Products One-day tickets Three-day tickets Revenues
Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 104,000 one-day admission tickets with an average price of $141 and 38,000 three-day admission tickets with an average price of $312. The park management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase by 4 percent. At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level and three-day ticket prices that are 10 percent lower than the current price. Required: Estimate admission revenues for Bramell Park for the coming year. Note: Do not round your Intermediate calculations. Products One-day tickets Three-day tickets Revenues
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 104,000 one-day
admission tickets with an average price of $141 and 38,000 three-day admission tickets with an average price of $312. The park
management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase
by 4 percent.
At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level
and three-day ticket prices that are 10 percent lower than the current price.
Required:
Estimate admission revenues for Bramell Park for the coming year.
Note: Do not round your Intermediate calculations.
Products
One-day tickets
Three-day tickets
Revenues
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