Question: 14 Problem 2-24A (Algo) Selecting the appropriate time period for cost averaging LO 2-5 8 points Adams Cinemas is considering a contract to rent

14 Problem 2-24A (Algo) Selecting the appropriate time period for cost averaging LO 2-5 8 points Adams Cinemas is considering a contract to rent

14 Problem 2-24A (Algo) Selecting the appropriate time period for cost averaging LO 2-5 8 points Adams Cinemas is considering a contract to rent a movie for $1,700 per day. The contract requires a minimum one-week rental period. Estimated attendance is as follows: Monday 450 Tuesday 310 Wednesday 170 Thursday 540 Friday 1,000 Saturday 1,000 Sunday 520 Required a. Determine the average cost per person of the movie rental contract separately for each day. b. Suppose that Adams chooses to price movie tickets at cost as computed in Requirement a plus $2.70. What price would it charge per ticket on each day of the week? c. Use weekly averaging to determine a reasonable price to charge for movie tickets. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req A Req B and C Determine the average cost per person of the movie rental contract separately for each day. (Round your answers to 2 decimal places.) Sunday Day Monday Tuesday Wednesday Thursday Friday Saturday Average cost per person $ 3.786 $ 4.59 $ 10.00 3.15 1.70 $ 1.70 $ 3.27 Return to question

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