A downtown bar hosts a live music event in order to increase sales. When analysing the...

 

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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 $160 Cost to create each drink Hire rock band $210 Employee wages $2.05 Selling price for each drink $555.50 Selling price for each ticket Number of drinks sold Cleaning costs $490. Number of tickets sold 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 cont a) What is the contribution margin for a drink sale? Contribution margin for a drink sale: 0.00 b) What is the contribution margin for a ticket sale? Contribution margin for a ticket sale: 0.00 c) What is the total of the fixed costs? Total fixed costs: 0.00 d) What is the total contribution margin for drinks sales? Total contribution margin for drinks sales: 0.00 $13.30 $16 50 41 e) What is the total contribution margin for ticket sales? Total contribution margin for ticket sales: 0.00 What is the net income of the event? When calculating the total contribution margin for the whole event include both the total contribution margin of the drinks sales and the total contribution margin of the ticket sales Net income: 0.00 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 $160 Cost to create each drink Hire rock band $210 Employee wages $2.05 Selling price for each drink $555.50 Selling price for each ticket Number of drinks sold Cleaning costs $490. Number of tickets sold 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 cont a) What is the contribution margin for a drink sale? Contribution margin for a drink sale: 0.00 b) What is the contribution margin for a ticket sale? Contribution margin for a ticket sale: 0.00 c) What is the total of the fixed costs? Total fixed costs: 0.00 d) What is the total contribution margin for drinks sales? Total contribution margin for drinks sales: 0.00 $13.30 $16 50 41 e) What is the total contribution margin for ticket sales? Total contribution margin for ticket sales: 0.00 What is the net income of the event? When calculating the total contribution margin for the whole event include both the total contribution margin of the drinks sales and the total contribution margin of the ticket sales Net income: 0.00

Answer rating: 100% (QA)

a Contribution margin for a drink sale Selling price for each drink 205 Variable cost per drink 0 no ... View the full answer