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Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $175 to attend the camp for a week. (Round your unit contribution margin and contribution margin ratio to two decimal places (l.e., .1234 12.34%.)) Unit Contribution Margin Contribution Margin Ratio Per camper %

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $175 to attend the camp for a week. (Round your unit contribution margin and contribution margin ratio to two decimal places (l.e., .1234 12.34%.)) Unit Contribution Margin Contribution Margin Ratio Per camper %

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[The following information applies to the questions displayed below.] Camp Rainbow offers overnight summer camp programs for children ages 10-14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. The results of the least-squares regression of the number of campers and the cost to run camp are given below. Following is the cost information for Camp Rainbow's operations last summer: Week 1 2 3 4 5 6 7 Number of Cost to Run Camp Campers 90 118 156 174 188. 184 170 156 $8,050 8,460 10,900 11,100 13,670 Intercept X Variable 1 14,300 12,325 11,270 E5-16 (Static) Preparing Contribution Margin Income Statement [LO 5-5] Coefficients 1876.55 60.73
Transcribed Image Text:[The following information applies to the questions displayed below.] Camp Rainbow offers overnight summer camp programs for children ages 10-14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on-site regardless of the number of campers enrolled. The results of the least-squares regression of the number of campers and the cost to run camp are given below. Following is the cost information for Camp Rainbow's operations last summer: Week 1 2 3 4 5 6 7 Number of Cost to Run Camp Campers 90 118 156 174 188. 184 170 156 $8,050 8,460 10,900 11,100 13,670 Intercept X Variable 1 14,300 12,325 11,270 E5-16 (Static) Preparing Contribution Margin Income Statement [LO 5-5] Coefficients 1876.55 60.73
Suppose that Rainbow is contemplating staying open one additional week during the summer. Required: 1. Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $175 to attend the camp for a week. 2. Using the results of the least-squares regression analysis, prepare a contribution margin income statement for week 9 assuming Rainbow expects to have 170 campers that week. 3. Should Rainbow add a ninth week to its schedule? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $175 to attend the camp for a week. (Round your unit contribution margin and contribution margin ratio to two decimal places (l.e., .1234 12.34%.)) Unit Contribution Margin Contribution Margin Ratio Per camper %
Transcribed Image Text:Suppose that Rainbow is contemplating staying open one additional week during the summer. Required: 1. Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $175 to attend the camp for a week. 2. Using the results of the least-squares regression analysis, prepare a contribution margin income statement for week 9 assuming Rainbow expects to have 170 campers that week. 3. Should Rainbow add a ninth week to its schedule? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the results of the least-squares regression analysis, determine Rainbow's contribution margin per camper if each camper pays $175 to attend the camp for a week. (Round your unit contribution margin and contribution margin ratio to two decimal places (l.e., .1234 12.34%.)) Unit Contribution Margin Contribution Margin Ratio Per camper %
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