Question 17 A baseball team plays in a stadium that holds 58000 spectators. With the ticket price at $11 the average attendance has been 23000. When the price dropped to $8, the average attendance rose to 29000. Assume that attendance is linearly related to ticket price. What ticket price would maximize revenue? $ Check Answer
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- T. Boone Pickens football stadium at Oklahoma State University has a seating capacity of about 40,000. Assume the stadium sells out all four home games before the season begins and the athletic department collects $31 million in ticket sales.1. What was the average price per season ticket and average price per individual game ticket sold? (Round your answers to the nearest dollar amount.) Average price per season ticket Average price per individual game ticket 2. & 3. Record the following transactions for the ticket sales. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. Round your answers to the nearest dollar amount.) Record the advance collection of $31 million in ticket sales. Transaction General Journal Debit Credit 1 Record the…Q) The University of Nebraska football stadium is the third largest city in the state of Nebraska on game days. The stadium has sold out every game since the late 1960s. The seating capacity is about 80,000 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $38.4 million in ticket sales. Required: .a) What is the average price per season ticket . b) average price per individual game ticket sold?. c) Record the advance collection of $38.4 million in ticket sales and the revenue earned after the first home game is completed. Solve it early and correctlyQ) The University of Nebraska football stadium is the third largest city in the state of Nebraska on game days. The stadium has sold out every game since the late 1960s. The seating capacity is about 80,000 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $38.4 million in ticket sales. Required: .a) What is the average price per season ticket . b) average price per individual game ticket sold?. c) Record the advance collection of $38.4 million in ticket sales and the revenue earned after the first home game is completed. Solve all three subparts correctly
- Question 16 options: With the following information, answer the following questions using the specified format (For example 40 days). This year, a business bought $10,000,000 worth of products from its suppliers. Its trade payables shown on the statement of financial position (balance sheet) is $1,000,000. During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its trade payables to increase by $300,000. Next year's average payment period is expected to be ______.Question 11 options: Answer the following, in the blank provided using the specified format. (For example: 40 days) A company's current revenue is $10,000,000 and accounts receivable are now $1,000,000. The sales manager estimates that sales should increase by 10% during the following year. The accounts receivable manager estimates that the new level of accounts receivable will remain unchanged. The companies current average collection period is ____.Question 17 options: With the following information, answer the following questions using the specified format (For example 40 days). This year, a business bought $10,000,000 worth of products from its suppliers. Its accounts payable balance shown on the balance sheet is $1,000,000. During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its accounts payable to increase by $300,000. This year's average payment period is ______.
- Question 1 The firm's average collection period ACP is 39 days. Purchases are 75% of sales and are made a month before the sales month. About 40% of a month's purchases is paid in the same month whereas the remainder is paid in the next month. Assume there are 30 days in a month Feb, 2022 Mar, 2022 Apr, 2022 Sales (RM) 52,000 55,000 54,000 (a)What is the total amount of sales collection in April 2022? (b) What is the total amount of purchase disbursement in March 2022? Question 2 A firm's expected sales in the coming year is RM3.6 million, and the firm's average receivables for the year is RM400,000. The firm is considering factoring the receivables. A factor offers a discount rate of 1.75%% for the firm's receivables. [Assume there are 360 days in a year] (a) How much can the firm obtain from factoring its receivables, and for how long? (b) What is the cost per year to the firm if it factors its receivables continually? (c) if a bank offers a loan for the…Question 19 What is the January Sales Revenue related to Job 1? Question 19 options: $450,000 $500,000 $380,000 $540,000 $100,000 Question 20 What is the January Sales Revenue related to Job 2? Question 20 options: $500,000 $380,000 $450,000 $100,000 $540,000Question A2 A business has forecast sales of its new product to be 21,000 units in the first year. The product will sell for £21 per unit and has variable production costs of £7. Fixed costs have been budgeted at £252,000. What is the margin of safety for the new product as a percentage (round to 2d.p.)
- Question 2 Style photo sells only one product. The statement of comprehensive income for 2021 is provided below: Sales 60,000 Less variable expenses -30,000 Contribution margin 30,000 Less fixed expenses -22,500 Net income 7,500 c. The sales in RM if the company wants to achieve RM40,000 in net income. d. The increase in net income if sales increase by RM50,000. e. The contribution margin in RM if there is no change in fixed and variable expensesquestion 1 JamCore Investments has completed their 2021 financial year which ran from the 1 May 2020. The company sells masks and sold 1 000 000 masks (2020:20 000) at a price of N$10 (2020:5). The company also manufactures the masks, the cost of sales in 2021 is N$ 1, 200% less than the prior. They managed to decrease the cost of sales by using cheaper and thinner fabric. a. Compare the gross profit margin for 2020 and 2021?b. Comment on any ethical considerations you may have? c.Can ethical qualities be attributed to corporations?(3 reasons to support claim)1. Cut 2023 sales salaries of $60,000 in half and give sales personnel a commission of 2% of net sales. 2. Reduce store deliveries to one day per week rather than twice a week. This change will reduce 2023 delivery expenses of $40,000 by 40%.