The Greensboro Performing Arts Center (GPAC) has a total capacity of 9,300 seats: 2,500 center seats, 3,000 side seats, and 3,800 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Ticket Price Percentage Occupied Budgeted Actual Seats Seats Center Side $ 70 90% 95% 60 50 80 85 ed Balcony 85 75 The actual ticket prices were the same as those budgeted. Once a show has been booked, the total cost does not vary with the total attendance. Required: Compute the following for the show: 1. The budgeted and actual sales mix percentages for different types of seats. 2. The budgeted average contribution margin 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. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B Req 4 The total sales mix variance. (Round your answers to the nearest whole dollar amount.) Sales Mix Variance Center Side Balcony Total S 10,850 Favorable 10,920 (16,850) Favorable $ 4,920 Unfavorable Favorable Search A ENG US
The Greensboro Performing Arts Center (GPAC) has a total capacity of 9,300 seats: 2,500 center seats, 3,000 side seats, and 3,800 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Ticket Price Percentage Occupied Budgeted Actual Seats Seats Center Side $ 70 90% 95% 60 50 80 85 ed Balcony 85 75 The actual ticket prices were the same as those budgeted. Once a show has been booked, the total cost does not vary with the total attendance. Required: Compute the following for the show: 1. The budgeted and actual sales mix percentages for different types of seats. 2. The budgeted average contribution margin 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. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3A Req 3B Req 4 The total sales mix variance. (Round your answers to the nearest whole dollar amount.) Sales Mix Variance Center Side Balcony Total S 10,850 Favorable 10,920 (16,850) Favorable $ 4,920 Unfavorable Favorable Search A ENG US
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
image formate not allow
Transcribed Image Text:The Greensboro Performing Arts Center (GPAC) has a total capacity of 9,300 seats: 2,500 center seats, 3,000 side seats, and 3,800
balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows:
Percentage Occupied
Budgeted
ed
0
Ticket
Price
Actual
Seats
Seats
Center
Side
$ 70
90%
80
85
95%
85 75
Balcony
60
50
The actual ticket prices were the same as those budgeted. Once a show has been booked, the total cost does not vary with the total
attendance.
Required:
Compute the following for the show:
1. The budgeted and actual sales mix percentages for different types of seats.
2. The budgeted average contribution margin 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.
Complete this question by entering your answers in the tabs below.
Req 1
Req 2
Req 3A
Req 3B
Req 4
The total sales mix variance. (Round your answers to the nearest whole dollar amount.)
Sales Mix Variance
Center
Side
Balcony
Total
$
10,850
Favorable
10,920
(16,850)
Favorable
$ 4,920
Unfavorable
Favorable
Search
myhp
אט
ENG
US
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education