Please do not give solution in image format thanku The Greensboro Performing Arts Center (GPAC) has a total capacity of 8,600 seats: 2,400 center seats, 2,900 side seats, and 3,300balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows:Percentage OccupiedTicket Price Budgeted Seats Actual SeatsCenter $SideBalcony85756590 %Required: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.808595 %8575The actual ticket prices were the same as those budgeted. Once a show has been booked, the total cost does not vary with the totalattendance.

Sales variances are the differences between the actual sales revenue generated by a company and the…

The Greensboro Performing Arts Center (GPAC) has a total capacity of 8,600 seats: 2,400 center seats, 2,900 side seats, and 3,300 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Percentage Occupied Center $ Side Ticket Price Budgeted Seats Actual Seats Balcony 85 75 65 90 % 80 85 95 % 85 75

The Greensboro Performing Arts Center (GPAC) has a total capacity of 8,600 seats: 2,400 center seats, 2,900 side seats, and 3,300 balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows: Percentage Occupied Center $ Side Ticket Price Budgeted Seats Actual Seats Balcony 85 75 65 90 % 80 85 95 % 85 75

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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Sales Volume, Sales Quantity, and Sales Mix Variances The Greensboro Performing ArtsCenter (GPAC) has a total capacity of 7,500 seats: 2,000 center seats, 2,500 side seats, and 3,000balcony seats. The budgeted and actual tickets sold for a Broadway musical show are as follows:Percentage OccupiedTicket Price Budgeted Seats Actual SeatsCenter $70 90% 95%Side 60 80 85Balcony 50 85 75The actual ticket prices were the same as those budgeted. Once a show has been booked, the totalcost does not vary with the total attendance.Required Compute the following for the show (calculate sales mix percentage and unit contribution margin to 4 decimal places and round the variances to the nearest whole dollar):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. The total sales quantity variance and the total sales mix variance.4. The total sales volume variance.
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