---**Zachary Entertainment Rock Concert Cost Analysis**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?---**Instructions: Complete this question by entering your answers in the tabs below.**### Required A- Calculate the total band cost.- Calculate the cost per person for each given attendance figure.### Required B**Question:** Is the cost of hiring the band a fixed or variable cost?**Answer Framework:**- Since the cost of hiring the band remains at \$55,000 regardless of the number attending, it is a [fill in with "fixed" or "variable"] cost.---**Details:**- **Calculations for Required A:**1. **Total Band Cost:** Always $55,000.2. **Cost Per Person:** - For 11,000 attendees: $ \frac{55000}{11000} = 5 $ dollars per person. - For 11,500 attendees: $ \frac{55000}{11500} = 4.78 $ dollars per person. - For 12,000 attendees: $ \frac{55000}{12000} = 4.58 $ dollars per person. - For 12,500 attendees: $ \frac{55000}{12500} = 4.4 $ dollars per person. - For 13,000 attendees: $ \frac{55000}{13000} = 4.23 $ dollars per person.---**Graphical/Tabular Explanation:** - The answers are expected in tabulated forms within the Required A section.- There are no additional graphs or diagrams provided in the image other than the tabulated input sections "Required A" and "Required B."**Conclusion:**The cost of hiring the band is fixed at $55,000 per concert. This cost does not change with the number of attendees; hence, it is a fixed cost.**Completion Section for Inputs:**- **Required A:** Calculate the specific per-person cost by dividing

Total cost refers to the cost incurred for manufcatuing the product of purchase cost to be incurred…

Zachary Entertainment sponsors rock concerts. The company is considering a contract to hire a band at a cost of $55,000 per co 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 Required B Is the cost of hiring the band a fixed or a variable cost? Since the cost of hiring a band remains at regardless of the number attending, it is a < Required A Required

Zachary Entertainment sponsors rock concerts. The company is considering a contract to hire a band at a cost of $55,000 per co 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 Required B Is the cost of hiring the band a fixed or a variable cost? Since the cost of hiring a band remains at regardless of the number attending, it is a < Required A Required

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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