The Magic Amusement Park is considering signing a contract to hire a circus at a cost of
Question:
Required
a. For each day, determine the average cost of the circus contract per person attending. Round your figures to two decimal points.
b. Suppose that the park prices circus tickets at cost as computed in Requirement a plus $2.00. What would be the price per ticket charged on each day of the week?
c. Use weekly averaging to determine a reasonable price to charge for the circus tickets.
d. Comment on why weekly averaging may be more useful to business managers than daily averaging.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-1259569197
8th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds
Question Posted: