Please Solve In 20mins please do not copy pleaseJohn has been asked to determine whether the $22.50 cost of tickets for the community dinner theater willallow the group to achieve break-even and whether the 175 seating capacity is adequate The cost foreach performance of a 10-performance run is $2,500.The facility rental cost for the entire 10 performances is $10,000 Drinks and parking are extra chargesand have their own price and variable costs, as shown below4Selling Price (P)Dollar Sales (Sales x P) Percent of sales689.Variable Cost (V).Percent Variable Cost (V/P) Contribution 1-(V/P)SalesContribution Weighted By Precent Sales (Col 5 xUnitsCol 8)TicketsDrinksParking $5.00Total$22 50$5 00$10 50$175$2 000 5330 6500 600450 $53130 4670 3500 400175 $3938175 S875100 $5000 5580.7410 1650 0940 3950 1070 0561.000123456789

Break-even analysis is the analysis which is made and prepared by the company in order to know and…

John has been asked to determine whether the $22.50 cost of tickets for the community dinner theater will allow the group to achieve break-even and whether the 175 seating capacity is adequate. The cost for each performance of a 10-performance run is $2,500.

John has been asked to determine whether the $22.50 cost of tickets for the community dinner theater will allow the group to achieve break-even and whether the 175 seating capacity is adequate. The cost for each performance of a 10-performance run is $2,500.

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 20M

See similar textbooks

Similar questions

The College is planning a concert. Maximum capacity for the concert venue is 3,000. tickets will be sold for $25 per ticket. The college estimates that costs of producing the concert to be 2,500 plus the cost of the band. Alternative A a fee of $8,000 and $5 per tickets; or Alternative B - $8.00 per ticket sold Question 1. If you expect to see 3,000 tickets, which alternative produces the highest profit?
Complete ALL requirements <>
Franklin Entertainment sponsors rock concerts. The company is considering a contract to hire a band at a cost of $55,000 per concert. 6. Required a. What are the total band cost and the cost per person if concert attendance is 2,000, 2,500, 3,000, 3,500, or 4,000? b. Is the cost of hiring the band a fixed or a variable cost? Skipped Complete this question by entering your answers in the tabs below. Required A Required B What are the total band cost and the cost per person if concert attendance is 2,000, 2,500, 3,000, 3,500, or 4,000? (Round "Cost per person" answers to 2 decimal places.) Number attending 2,000 2,500 3,000 3,500 4,000 Total cost of concert Cost per person Required B >
Thornton Entertainment sponsors rock concerts. The company is considering a contract to hire a band at a cost of $75,000 per concert. Required a. What are the total band cost and the cost per person if concert attendance is 8,000, 8,500, 9,000, 9,500, or 10,000? b. Is the cost of hiring the band a fixed or a variable cost? Complete this question by entering your answers in the tabs below. Required A Required B What are the total band cost and the cost per person if concert attendance is 8,000, 8,50 Note: Round "Cost per person" answers to 2 decimal places. Number attending Total cost of concert Cost per person 8,000 8,500 9,000 Required A 9,500 10,000 Required B >
Zachary Entertainment sponsors rock concerts. The company is considering a contract to hire a band at a cost of $55,000 per concert. Required a. What are the total band cost and the cost per person if concert attendance is 11,000, 11,500, 12,000, 12,500, or 13,000? b. Is the cost of hiring the band a fixed or a variable cost? Complete this question by entering your answers in the tabs below. Required A Is the cost of hiring the band a fixed or a variable cost? Since the cost of hiring a band remains at Required B regardless of the number attending, it is a Required > < Required A
Use the following information to complete Short Exercises S20-16 and S20-17. Wild 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. Wild Water's has the following ticket prices and variable costs for 2018: Wild Waters expects to sell one individual ticket for every four family tickets. Wild Waters’s total fixed costs are $27,500. Calculating breakeven point for two products Using the Wild Waters Swim Park information presented, do the following tasks. Requirements Compute the weighted-average contribution margin per ticket. Calculate the total number of tickets Wild Waters must sell to break even. Calculate the number of individual tickets and the number of family tickets the company must sell to break even.
Use the following information to complete Short Exercises S20-16 and S20-17. Wild 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. Wild Water's has the following ticket prices and variable costs for 2018: Wild Waters expects to sell one individual ticket for every four family tickets. Wild Waters’s total fixed costs are $27,500. Calculating breakeven point for two products For 2019, Wild Waters expects a sales mix of four individual tickets for every one family ticket. Requirements Compute the new weighted-average contribution margin per ticket. Calculate the total number of tickets Wild Waters must sell to break even. Calculate the number of individual tickets and the number of family tickets the company must sell to break even.
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: Individual Family Sale price per ticket $35 $105 Variable cost per ticket 25 100 Wyoming Waters expects to sell one individual ticket for every three family tickets. Wyoming Waters' total fixed costs are $25,000. 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 "0".) (Fixed costs + Target profit) ÷ Weighted-avg. CM per unit = Required sales in units ( + ) ÷ =…
An event manager who is planning an annual forum is trying to figure out how much to charge attendees for admission. What registration fee would be needed to break-even given the following? Fixed costs: $3,500 / Variable costs: $95 per person / Anticipated number of attendees: 700 150 100 200 O 50
Suppose that a small-town theater has six potential customers and is looking to implement price discrimination depending on when customers want to attend. Suppose the marginal cost of serving an additional customer is $1.50. The data provide information about the time of attendance and willingness to pay for a ticket. Customer Maximum willingness Time of attendance to pay Brandon $7 matinee Tyler $30 evening Austin $10 evening Alexis $8 matinee Ashley $20 evening Emily $15 matinee What should the theater charge for evening tickets? What should the theater charge for matinee tickets? $
A garage band wants to hold a concert. The expected crowd is 2,100. The average expenditure on concessions is $35. Tickets sell for $30 each, and the band's profit is 85% of the gate and concession sales minus a fixed cost of $20,000. Develop a mathematical model and implement it on a spreadsheet to find the band's expected profit.
Wild-Water Works Water Park provides for a fun day by offering a variety of rides. Wild-Water Works Water Park sells tickets at $55 per person as a one-day entrance fee. Variable costs per person are $26 and a fixed cost amount to $233,300 per month.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the new contribution margin per unit and the contribution margin ratio if Wild-Water Works Water Park increase its variable costs to $29.