NFL Green Bay Packers play on Lambeau field in Wisconsin. The total cost of operations and...

NFL Green Bay Packers play on Lambeau field in Wisconsin. The total cost of operations and maintenance for each year is $27 million and 6 home games are played per year. The cost to pay the players is $10,000,000 per year.

Each games operating cost is $2,833,333.33

Estimate the cost of running your stadium on game day. (Include the cost of utilities ($708,333.33), security ($708,333.33), maintenance on and off the field ($708,333.33), employees ($708.333.33), etc. Ignore concession and merchandise stands.

Also, assume the stadium is paid for meaning there is no outstanding debt.)

Estimate the average ticket price based on professional or school website research. ($35.54 per ticket). 81,441 tickets sold per game

Provide your reasoning/assumptions for your estimates (explain how you came up with the figures you include in your estimates).

Calculate the breakeven point in tickets using the unit breakeven formula from the textbook. Show your calculations in your posting.

Based on your breakeven calculation compare that breakeven tickets number to the stadium’s capacity. Is your breakeven point reasonable?

Expert Solution

ekkarill92 answered 3 weeks ago

Packer Fan Tours is the official tour company for the Green Bay Packers of the NFL....

Packer Fan Tours is the official tour company for the Green Bay Packers of the NFL. One of the events in the package is to sponsor a reception the night before a game for fans that is attended by 5 of the players from the team. There are 53 players on the Green Bay Packers' roster of which 22 are starters. Assume that the 6 players attending the reception this week are chosen randomly. Determine the probability of the following...

The NFL currently does not allow any team other than the Green Bay Packers to have...

The NFL currently does not allow any team other than the Green Bay Packers to have any shareholders. Should the NFL change this rule? Why or why not?

Green Co. has a machine with a total cost of $70 million, and the machine is...

Green Co. has a machine with a total cost of $70 million, and the machine is placed in service at the beginning of 2018. The machine is depreciated using the the sum-of-the-years'-digits method with 10-year useful life and $4 million in residual value. At the beginning of 202, Green decides to change to the straight-line method with 11-year useful life and $5.6 million in residual value. Required: How much is the depreciation expense related to the machinein 2021? Please share...

Green Co. constructed a machine at a total cost of $60.90 million. Construction was completed at...

Green Co. constructed a machine at a total cost of $60.90 million. Construction was completed at the end of 2017 and the machine was placed in service at the beginning of 2018. The machine was being depreciated over a 10-year life using the sum-of-the-years’-digits method. The residual value is expected to be $3.30 million. At the beginning of 2021, Green decided to change to the straight-line method. Required: 1. Ignoring income taxes, what journal entry(s) should Green record relating to...

Green Co. constructed a machine at a total cost of $70 million. Construction was completed at...

Green Co. constructed a machine at a total cost of $70 million. Construction was completed at the end of 2014 and the machine was placed in service at the beginning of 2015. The machine was being depreciated over a 10-year life using the sum-of-the-years’-digits method. The residual value is expected to be $4 million. At the beginning of 2018, Green decided to change to the straight-line method. Required: 1. Ignoring income taxes, what journal entry(s) should Green record relating to...

Green Co. constructed a machine at a total cost of $63.50 million. Construction was completed at...

Green Co. constructed a machine at a total cost of $63.50 million. Construction was completed at the end of 2012 and the machine was placed in service at the beginning of 2013. The machine was being depreciated over a 10-year life using the sum-of-the-years’-digits method. The residual value is expected to be $3.50 million. At the beginning of 2016, Green decided to change to the straight-line method. Required: 1. Ignoring income taxes, what journal entry(s) should Green record relating to...

A transport company is studying the total cost of operations. It is assumed that the costs...

A transport company is studying the total cost of operations. It is assumed that the costs are driven mainly by the kilometres covered. Data for the past four months is shown here: Month Kilometres Total Cost ($) January 8,000 144,000 February 5,000 120,000 March 7,000 141,000 April 9,000 195,000 a) What is the relevant range for the company operations? b) Using the high-low method, estimate the company's variable cost per kilometre

Green Acres Farms just purchased a tractor on January 1, 2020. The total purchase price (cost)...

Green Acres Farms just purchased a tractor on January 1, 2020. The total purchase price (cost) was $600,000. They expect to use the tractor for 5 years and sell for $100,000. Assume according to MACRS, they can depreciate tractors for 3 years using 150% declining balance. Complete the following depreciation questions. PART A Fill in the economic depreciation table using the straight-line method. Year Remaining value at beginning of year Depreciation Remaining value at end of year 2020 [Q30] [Q31]...

Question