Please do not give salutations in image format thankuh 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 OccupiedBudgeted Seats Actual SeatsCenter$75Side65Balcony 5575The actual ticket prices were the same as those budgeted. Once a show has been booked, the total cost does not varywith the total attendance.80%70Required:Compute the following for the show:3-a. The total sales mix variance.3-b. The total sales quantity variance.4. The total sales volume variance.85%7565 Complete this question by entering your answers in the tabs below.CenterSideBalconyTotalThe total sales mix variance. (Round your answers to the nearest whole dollar amount.)Sales Mix VarianceFavorableFavorableUnfavorableCenterSideBalconyTotalReq 3A$CenterSideBalconyTotal4,066 FavorableTOOThe total sales volume variance.Req 3AThe total sales quantity variance. (Round your answers to the nearest whole dollar amount.)Sales Quantity VarianceUnfavorableUnfavorableUnfavorableUnfavorableReq 3BReq 3AReg 3BUnfavorableUnfavorableSales Volume VarianceFavorableFavorableReq 4Req 3BReq 4Req 4

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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 Side 65 55 80% 70 75 Balcony 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: 3-a. The total sales mix variance. 85% 3-b. The total sales quantity variance. 4. The total sales volume variance. 75 65

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 Side 65 55 80% 70 75 Balcony 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: 3-a. The total sales mix variance. 85% 3-b. The total sales quantity variance. 4. The total sales volume variance. 75 65

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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The Greensboro Performing Arts Center (GPAC) has a total capacity of 8,500 seats: 2,300 center seats, 2,800 side seats, and 3,400 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 $ 80 80% 85% Side 70 70 75 Balcony 60 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 (each different seat section): 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 Rock of Aegis presents a series of concerts throughout the year. Budgeted fixed costs total $300,000 for the concert season; variable costs are expected to average $5 per patron. The orchestra uses flexible budgeting.What is the Total costs at 9,500 patrons?
Peter Rabbit, which had a six-week run with three performances on each weekend. The costs from the current year's planning budget appear below. The Little Theatre Costs from the Planning Budget For the Year Ended December 31 Budgeted number of productions 6 Budgeted number of performances 108 Actors and directors wages $224,640 Stagehands wages 41, 040 Ticket booth personnel and ushers wages 24,840 Scenery, costumes, and props 108,480 Theater hall rent 62, 640 Printed programs 35, 640 Publicity 12, 480 Administrative expenses 44, 280 Total $ 554, 040 Some of the costs vary with the number of productions, some with the number of performances, and some are fixed and depend on neither the number of productions nor the number of performances. The costs of scenery, costumes, props, and publicity vary with the number of productions. It doesn't make any difference how many times Peter Rabbit is performed, the cost of the scenery is the same. Likewise, the cost of publicizing a play with…
A local engineering firm is bidding on a design project for a new client. The total budgeted direct-labor costs for the firm are $600,000. The total budgeted indirect costs are $800,000. It is estimated that there are 10,000 billable hours in total. a. What is the budgeted direct-labor cost rate? b. What is the budgeted indirect-cost rate assuming direct-labor cost is the allocation base? c. What should be the engineering firm bid on the project if the direct labor hours are estimated at 300 hours?
Shalom Company measures its activity in terms of court reservations. Last month, the budgeted level of activity was 480 player-visits, and the actual level of activity was 440 player-visits. The company budgets for variable overhead costs of P3.30 per player-visit and fixed overhead costs of P10,600 per month. The actual variable overhead cost last month was P3,830 and the actual fixed overhead cost was P8,780. In your flexible budget performance report, identify the difference between budgeted and actual costs and indicate as favorable or unfavorable. Total variable overhead costs (not 2246UF) Total manufacturing costs (not 426UF)
1. The Copy Center is a service department for the operating departments Foster School of Business, which includes the Accounting Department. Rates for usage of the Copy Center for the Accounting Department for 2020 are below: Fixed Cost $43,000 Budgeted Variable Cost $0.38 per page These budgeted costs are used to determine the transfer price that other departments will pay for their usage of the Copy Center Service Department. Due to an error in the budgeted the price of ink, the Copy Center service department now incurs a cost of $0.74 per page. How much should the Foster Accounting Department be charged for the year if it printed 500 copies during 2020? 2. Chipotle is deciding whether to continue making guacamole in the restaurant or buy it from an outside supplier. Chipotle's cost information is as follows (unit is a tub full of guacamole): Cost per Unit Direct Materials $9.78 Direct Labor $4.14 Variable Overhead $2.41 Worker Salary $6.59 Depreciation of…
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A local engineering firm is bidding on a design project for a new client. The total budgeted direct-labor costs for the firm are $400,000. The total budgeted indirect costs are $600,000. It is estimated that there are 8,000 billable hours in total. Required: What is the budgeted direct-labor cost rate? What is the budgeted indirect-cost rate assuming direct-labor cost is the allocation base? What should be the engineering firm bid on the project if the direct labor hours are estimated at 300 hours?
tour company uses two measures of activity, routes and passengers in its cost formulas used for budgeting and performance evaluation. The cost formula for tour operating costs is $56,880 per month plus $2,880 per route plus $15 per passenger. The company expected in August to perform 90 routes and serve 256 passengers, but the actual activity was 96 routes and 263 passengers. The actual tour operating costs in August was $305,100. The spending variance for tour operating costs in August would be closest to: Multiple Choice $32,205 Unfavorable $32,205 Favorable $14,820 Unfavorable $17,385 Favorable $14,820 Favorable O O O
Varney Corporation, a manufacturer of electronics and communications systems, allocates Computing and Communications Services Department (CCS) costs to profit centers. The following table lists the types of services and cost drivers for each service. The table also includes the budgeted cost and quantity for each service for August. CCS Services Cost Drivers Budgeted Cost Budgeted Quantityof Services Help desk Number of calls $90,000 3,600 Network center Number of devices 120,000 1,500 Electronic mail Number of user accounts 160,000 5,000 Smartphone support Number of smartphones issued 72,000 4,000 One of the profit centers for Varney Corporation is the Communication Systems (COMM) division. Assume the following information for COMM: COMM has 2,500 employees, of whom 20% are office employees. All of the office employees have been issued a smartphone, and 95% of them have a computer on the network. One hundred percent of the employees with a computer also…
XYZ's Book and Music Store has two service departments, Warehouse and Data Center. Warehouse Department costs of $280,000 are allocated based on budgeted warehouse-hours. Data Center Department costs of $80,000 are allocated based on the number of computer log-on hours. The costs of operating departments Music and Books are $90,000 and $108,000, respectively. Data on budgeted warehouse-hours and number of computer log-on hours are as follows: Budgeted costs Budgeted warehouse-hours O $122,500 Production Departments O $126,000 Number of computer hours 400 O $98,000 Warehouse Department O $98,000 $280,000 ΝΑ Data Center Department $80,000 500 ΝΑ Support Departments Music $90,000 1,125 900 Books Using the direct method, what amount of Warehouse Department costs will be allocated to Department Books? (Do not round any intermediary calculations.) $108,000 875 700
Assume that a company has two cost drivers-number of courses and number of students. The planned number of courses and students were 5 and 100, respectively. The actual number of courses and students were 6 and 110, respectively. One of the company's expenses is influenced by both cost drivers. Its cost formulas are $58 per course and $7 per student. The total cost included in the planning budget for this expense would be:Multiple Choice$890.$ 990.$1,090.$1,190.