The Greensboro Performing Arts Center (GPAC) has a total capacity of 8,800 seats: 2,400 center seats, 2,900side seats, and 3,500 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are asfollows: Ticket Price Percentage Occupied Budgeted Seats Actual Seats Center $ 80 80% 85% Side 70 70 75Balcony 60 75 65 The actual ticket prices were the same as those budgeted. Once a show has been booked, thetotal cost does not vary with the total attendance. Required: Compute the following for the show: 1. Thebudgeted and actual sales mix percentages for different types of seats. 2. The budgeted average contributionmargin per seat. Assume the ticket price is also the contribution margin. 3-a. The total sales mix variance. 3-b.The total sales quantity variance. 4. The total sales volume variance.

The objective of the question is to calculate the budgeted and actual sales mix percentages for…

Answered: The Greensboro Performing Arts Center…

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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