A downtown bar hosts a live music event in order to increase sales. When analysing the sales and costs associated with the event the owner creates the following table Contractor costs Regular costs Sales Hire pop band $200 Cost to create each drink $2.74 Selling price for each drink Selling price for each ticket $200 Employee wages $560.50 Hire rock band Cleaning costs $323 b) What is the contribution margin for a ticket sale? Contribution margin for a ticket sale: 0.00 You may ignore all costs not mentioned above (for instance the cost of creating a ticket). All your answers should be rounded to the nearest cent a) What is the contribution margin for a drink sale? Contribution margin for a drink sale: 0.00 c) What is the total of the fixed costs? Total fixed costs: 0.00 A d) What is the total contribution margin for drinks sales? Total contribution margin for drinks sales: 0.00 e) What is the total contribution margin for ticket sales? Total contribution margin for ticket sales: 0.00 Number of drinks sold Number of tickets sold $10.90 $25 60 43
A downtown bar hosts a live music event in order to increase sales. When analysing the sales and costs associated with the event the owner creates the following table Contractor costs Regular costs Sales Hire pop band $200 Cost to create each drink $2.74 Selling price for each drink Selling price for each ticket $200 Employee wages $560.50 Hire rock band Cleaning costs $323 b) What is the contribution margin for a ticket sale? Contribution margin for a ticket sale: 0.00 You may ignore all costs not mentioned above (for instance the cost of creating a ticket). All your answers should be rounded to the nearest cent a) What is the contribution margin for a drink sale? Contribution margin for a drink sale: 0.00 c) What is the total of the fixed costs? Total fixed costs: 0.00 A d) What is the total contribution margin for drinks sales? Total contribution margin for drinks sales: 0.00 e) What is the total contribution margin for ticket sales? Total contribution margin for ticket sales: 0.00 Number of drinks sold Number of tickets sold $10.90 $25 60 43
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter11: Linear Optimization Models
Section: Chapter Questions
Problem 5P: Round Tree Manor is a hotel that provides two types of rooms with three rental classes: Super Saver,...
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