The Houston Armadillos, a minor-league baseball team, play their weekly games in a small stadium just outside
Question:
The Houston Armadillos, a minor-league baseball team, play their weekly games in a small stadium just outside Houston. The stadium holds 10,000 people and tickets sell for $10 each. The franchise owner estimates that the team’s annual fixed expenses are $180,000, and the variable expense per ticket sold is $1. (In the following requirements, ignore income taxes.)
Required:
1. Draw a cost-volume-profit graph for the sports franchise. Label the axes, break-even point, profit and loss areas, fixed expenses, variable expenses, total-expense line, and total-revenue line.
2. If the stadium is half-full for each game, how many games must the team play to break even?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
1 Costvolumeprofit graph 2 Stadium capacity 10000 Attendance rate 50 Attendance per game 5000 Br...View the full answer
Answered By
Nicole omwa
Being a highly skilled tutor with at least 5 years of tutoring experience in different areas, I learned how to help diverse learners in writing drafts of research papers, actual research papers and locate credible sources. My assurance is built upon my varied knowledge of a variety of subjects. Furthermore, my involvement and interaction with numerous learners of all levels has allowed me to understand my clients' specific demands. Ultimately, this has aided me in being a better coach to learners to better their grades. Essentially, my responsibilities as a tutor would include:
Teaching abilities that assist pupils in enhancing their academic performance
Personal interaction with learners to make them understand abstract concepts
Inducing new skills and knowledge into their academic journeys
Fostering individual reflection, and independent and critical thinking
Editing and proofreading
Because I am constantly available to respond to your queries, you may decide to rely on me whenever you require my assistance. As an assurance, my knowledge skills and expertise enable me to quickly assist learners with different academic challenges in areas with difficulty in understanding. Ultimately, I believe that I am a reliable tutor concerned about my learner's needs and interests to solve their urgent projects. My purpose is always to assist them in comprehending abstract schoolwork and mastering their subjects. I also understand that plagiarism is a severe offense and has serious ramifications. Owing to this, I always make it a point to educate learners on the numerous strategies to have uniquely unique solutions. I am familiar with the following formatting styles:
MLA
APA
Harvard
Chicago
IEEE
Communication is always the key in every interaction with my learners. Hence, I provide timely communication about the progress of assigned projects. As a result, I make sure that I maintain excellent communication with all of my clients. I can engage with all of my customers more effectively, assisting them with their unique academic demands. Furthermore, I attempt to establish a solid working relationship with my leaners I have exceptional abilities in the below areas;
Sociology
History
Nursing
Psychology
Literature
Health and Medicine
Chemistry
Biology
Management
Marketing
Business
Earth Science
Environmental Studies
Education
Being a teacher who aces in diverse fields, I provide various academic tasks, which include;
Academic Reports
Movie Reviews
Literature Reviews
Annotated bibliographies
Lab reports
Discussion posts
Dissertations
Case study analyses
Research proposals
Argumentative Essays
I guarantee you high-quality Papers!!!!!
5.00+
17+ Reviews
32+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
The Toledo Mud Hens are a Minor League baseball team inspired by the poem Casey at the Bat. The baseball team is positioned as a family entertainment brand. Although the team has historically strong...
-
How many units must Queens Company sell to break even if the selling price per unit is $9, variable costs are $5 per unit, and fixed costs are $6,000? What is the breakeven point in total dollars of...
-
A minor league baseball team is trying to predict ticket sales for the upcoming season and is considering changing ticket prices. a. The elasticity of ticket sales with respect to the size of the...
-
Hussein Hage has just approached a venture capitalist for financing for his new restaurant, Bistro Sally. The lender is willing to loan Bistro Sally Inc. $240,000 at a high-risk interest rate of 9%....
-
How many solutions does the equation x1 + x2 + x3 = 13 have where x1, x2, and x3 are nonnegative integers less than 6?
-
What is the weight of a 40-kg mass?
-
In a large corporate computer network, user log-ons to the system can be modeled as a Poisson process with a mean of 25 log-ons per hour. What is the probability that there are no log-ons in an...
-
Explain the difference between a private-purpose trust and a public-purpose trust. How does the reporting for the two types of trusts differ?
-
A2 Milk want to acquire Noumi. Briefly describe the valuation method chosen, namely, the fundamental and relative valuation methods used. Justify the choice of model and any significant assumptions...
-
What is the comparative negligence defense? When can it shield auditors from legal liability for their actions?
-
Rosario Company, which is located in Buenos Aires, Argentina, manufactures a component used in farm machinery. The firms fixed costs arc 4,000,000p per year. The variable cost of each component is...
-
Refer to the data given in the preceding exercise. (Ignore income taxes.) Required: 1. Prepare a fully labeled profit-volume graph for the Houston Armadillos. 2. What is the safety margin for the...
-
Given the following information for Rosato Pizza Co., calculate the depreciation expense: Sales = $41,000; Costs = $19,500; Addition to retained earnings = $5,100; Dividends paid = $1,500; Interest...
-
1. If the opportunity cost of capital assuming 100% equity financing is 12%, income tax rate is 30%, the marginal contribution to debt is 0.75 and the cost of debt is 15%, the adjusted cost of...
-
2. Consider the following Industry Demand and Total Cost Curves for an industry characterized by monopoly: Total Cost 650,000 + 8Q Demand: P = 1,084,000 - 152Q a) What are the marginal cost, average...
-
An industry faces an inverse demand curve given by: P = 90 - 1.5Q. Let MC = 0.5Q before a new environmental-protection regulation and MC=10 + 0.5Q after the regulation. Determine a) The cost to...
-
The current price of a stock is $100 per share. You expect the price will reach $231/share in 1 year. In addition, next year's dividend will be $3.12 per share. What is the holding-period-return for...
-
The balance sheet of XYZ Corporation lists cash of $25 million and current liabilities of $150 million. XYZ's current ratio is 3.0. What is the total of its current assets?
-
Law firms use job-costing to cost engagements. Thus, the markup required to cover overhead costs is not as great as in companies that use a process-costing system. Do you agree? Explain.
-
Which of the following statements is false? a. Capital leases are not commonly reported in a Capital Projects Fund. b. A governmental entity may report a Capital Project Fund in one year but not the...
-
Demand is external to the supply chain and thus is most uncertain in the manufacturing cycle. replenishment cycle. customer order cycle. procurement cycle.
-
Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs: For example, utilities should be $1,400 per month plus $0.05 per machine-hour. The company expects...
-
Jakes Roof Repair has provided the following data concerning its costs: Cost per Fixed Cost Repair-Hour Per Month $16.30 Wages and salaries $23,200 Parts and supplies . $8.60 Equipment depreciation...
-
Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concerning its operations: While gelato is sold by the cone or cup, the shop measures its activity in...
-
Rewrite the Roman numeral using the least number of symbols possible and the subtractive principle where applicable?
-
Determine, with justification, the smallest possible average of a set whose elements are distinct positive integers that includes the integer 200.
-
This study is for students joining University who are not living in the region. Suppose that a student will join the University next semester and wants to choose between renting a one-bedroom...
Study smarter with the SolutionInn App