The Greensboro Performing Arts Center (GPAC) has a total capacity of 7,700 seats: 2,000 center seats, 2,500 side seats, and 3,200 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Ticket Price Percentage Occupied Budgeted Seats Actual Seats Center $ 75 80% 85% Side 65 70 75 Balcony 55 75 65 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.
The Greensboro Performing Arts Center (GPAC) has a total capacity of 7,700 seats: 2,000 center seats, 2,500 side seats, and 3,200 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Ticket Price Percentage Occupied Budgeted Seats Actual Seats Center $ 75 80% 85% Side 65 70 75 Balcony 55 75 65 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.
Chapter8: Budgets And Bank Reconciliations
Section: Chapter Questions
Problem 1.5C
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Question
The Greensboro Performing Arts Center (GPAC) has a total capacity of 7,700 seats: 2,000 center seats, 2,500 side seats, and 3,200 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows:
| Ticket Price | Percentage Occupied | ||
|---|---|---|---|
| Budgeted Seats | Actual Seats | ||
| Center | $ 75 | 80% | 85% |
| Side | 65 | 70 | 75 |
| Balcony | 55 | 75 | 65 |
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.
Transcribed Image Text:Complete this question by entering your answers in the tabs below.
Req 1
Req 2
Req 3A
Req 3B
Req 4
The budgeted average contribution margin per seat. Assume the ticket price is also the contribution margin. (Round your
answer to 2 decimal places.)
Budgeted average contribution margin per seat
Transcribed Image Text:Complete this question by entering your answers in the tabs below.
Req 1
Req 2
Center
Side
Balcony
Budgeted
Sales Mix
Req 3A
The budgeted and actual sales mix percentages for different types of seats. (Round your answers to 4 decimal places. (i.e.
.123456 = 12.3456%))
%
%
%
Req 3B
Actual
Sales Mix
Req 4
%
%
%
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VIEWStep 5: Calculation of total sales quantity variance.
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Follow-up Question
The budgeted and actual sales mix percentages for different types of seats. (Round your answers to 4 decimal places. (i.e. .123456 = 12.3456%))
all answers were incorrect for this section
Transcribed Image Text:Complete this question by entering your answers in the tabs below.
Req 1
Req 2
Center
Side
Balcony
Budgeted
Sales Mix
Req 3A
The budgeted and actual sales mix percentages for different types of seats. (Round your answers to 4 decimal places. (i.e.
.123456 = 12.3456%))
%
%
%
Req 3B
Actual
Sales Mix
Req 4
%
%
%
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