Question
In: Accounting
The Director of Annie Smith Dance Center is asking for assistance with the financial aspects of...
The Director of Annie Smith Dance Center is asking for assistance with the financial aspects of running a professional group of performers. She wants financial information presented in an easy to read format and a better understanding of the profitability of the concerts and the organization as a whole.
The Annie Smith professional group features three styles of dance concerts each year. Two of the dance concerts showcase a different genre. The third performance is a Christmas Spectacular, which is the most popular and is therefore scheduled every year. The table below provides information about expected ticket sales for the performances.
| Lower Orchestra Section (A) | Upper Orchestra Section (B) | |||||
| Descriptions | No. of Seats. | Ticket Price | Tickets sold per performance | No. of seats | Ticket Price | Tickets sold per performance |
| Hip-Hop Performance | 150 | $85 | 100% | 450 | $50 | 90% |
| Jazz and Tap Dance | 150 | $85 | 100% | 450 | $50 | 60% |
| Christmas Spectacular | 150 | $125 | 100% | 450 | $50 | 100% |
Ms. Smith has prepared a tentative schedule for the coming season. The table below also shows the type and number of performances and direct cost per type of concert.
| Descriptions | Number of Performances | Cost per Dance Concert (direct fixed costs)* |
| Hip-Hop Concert | 10 | $48,000 |
| Jazz and Tap Dance | 5 | 86,000 |
| Christmas Spectacular | 20 | 22,000 |
| Total Direct Fixed Costs | $156,000 |
*Examples of direct fixed costs are costumes, rehearsals, royalties, guest artist fees, choreography, and salaries of production staff, music, and wardrobe for each of the concerts. This amount does not change with the number of performances.
Additional costs:
Variable costs associated with each performance are shown below.
| Musicians | $6,100 |
| Rental of auditorium | 2,500 |
| Dancers' compensation | 6,700 |
Annual general administrative and operating costs for the dance center are:
| Administrative staff | $185,000 |
| Insurance | 25,000 |
| Marketing | 115,000 |
| General office expenses | 90,000 |
Ms. Smith wants the Dance Center to generate at least $300,000 in operating profit. What level of revenues does the performance group need to achieve to meet this goal? Prepare an income statement in good format to support the computations.
No Calculations necessary I am only asking for format and necessary formulas.
Thanks in advance!
Solutions
Expert Solution
I HOPE ITS HELPFUL TO YOU IF YOU HAVE ANY DOUBTS PLS COMMENTS BELOW..I WILL BE THERE TO HELP YOU...ALL THE BEST...!!
AS FOR GIVEN DATA...
I HOPE YOU UNDERSTAND...
PLS RATE THUMBS UP....ITS HELPS ME ALOT...
THANK YOU...!!
ekkarill92 answered 2 hours agoRelated Solutions
The Director of Annie Smith Dance Center is asking for assistance with the financial aspects of...
The Director of
Annie Smith Dance Center is asking for assistance with the
financial aspects of running a professional group of performers.
She wants financial information presented in an easy to read format
and a better understanding of the profitability of the concerts and
the organization as a whole.
The Annie Smith
professional group features three styles of dance concerts each
year. Two of the dance concerts showcase a different genre. The
third performance is a Christmas Spectacular, which is...
Transaction Analysis, Trial Balance, and Financial Statements Kate Smith operates the Smith Dance Studio. The trial...
Transaction Analysis, Trial Balance, and Financial
Statements
Kate Smith operates the Smith Dance Studio. The trial balance as of
June 30 is as follows:
SMITH DANCE STUDIO
Trial Balance
June 30
Debit
Credit
Cash
$25,110
Accounts Receivable
13,480
Piano
6,000
Accounts Payable
180
Notes Payable
9,500
Common Stock
11,870
Retained Earnings
13,780
Dividends
900
Instructional Fees Earned
9,600
Performance Revenue
6,300
Rent Expense
4,600
Utilities Expense
480
Advertising Expense
550
Interest Expense
110
Totals
50,230
50,230
Required
c. Prepare an...
The director of the Computer Center needs to schedule the staffing of the center. It is...
The director of the Computer Center needs to schedule the
staffing of the center. It is open from 8am until midnight. The
director has monitored the usage of the center at various times of
the day and determined that the following number of computer
consultants are required:
Time of Day
Minimum number of consultants
required to be on duty
8am-noon
12
Noon-4pm
18
4pm-8pm
24
8pm-midnight
12
The two types of computer consultants can be hired: full-time
and part-time.
The...
Q: Asking for assistance in understanding and solving this example on Modern Algebra II with the...
Q: Asking for assistance in understanding and solving this
example on Modern Algebra II with the steps of the solution to
better understand, thanks.
**Please give the step by steps with details to
completely see how the solution came about.
1) Determine all elements in an integral domain that are their
own inverses under multiplication.
2) Let F be a finite field with n elements.
Prove that x^(n-1 )= 1 for all nonzero x in F.
Hint: Use the fact...
The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer,...
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:
Wood
220 ft.
Plastic
250 lb.
Finished products:
Birdhouse
300 units at $23 per unit
Bird feeder
240...
The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer,...
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:
Wood
220 ft.
Plastic
250 lb.
Finished products:
Birdhouse
300 units at $23 per unit
Bird feeder
240...
The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer,...
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:
Wood
220 ft.
Plastic
250 lb.
Finished products:
Birdhouse
300 units at $23 per unit
Bird feeder
240...
nfant Care Center Director Qualifications and Duties...................................................................101415 Assistant Infant Care Center Director Qualifications and Duties................................................101415. 1Infant...
nfant Care Center Director Qualifications and
Duties...................................................................101415
Assistant Infant Care Center Director Qualifications and
Duties................................................101415.
1Infant Care Teacher Qualifications and
Duties............................................................................101416.2
Infant Care Aide Qualifications and
Duties.................................................................................101416.3
Staff-Infant
Ratio.........................................................................................................................101416.5
Staffing for Infant Water
Activities.............................................................................................101416.8
Toddler Component in an Infant Care
Center.................................................................................101417
Infant Needs and Services
Plan....................................................................................................101419.2
Modifications to Infant Needs and Services
Plan........................................................................101419.3
Infant Care
Discipline..................................................................................................................101423.1
Infant Care
Transportation..............................................................................................................101425
Infant Care Isolation for
Illness...................................................................................................101426.2
Infant Care Food
Service................................................................................................................101427
Infant Care Personal
Services.........................................................................................................101428
Responsibility for Providing Care and Supervision for
Infants......................................................101429...
infant Care Center Director Qualifications and Duties...................................................................101415 Assistant Infant Care Center Director Qualifications and Duties................................................101415. 1Infant..
infant Care Center Director Qualifications and
Duties...................................................................101415
Assistant Infant Care Center Director Qualifications and
Duties................................................101415.
1Infant Care Teacher Qualifications and
Duties............................................................................101416.2
Infant Care Aide Qualifications and
Duties.................................................................................101416.3
Staff-Infant
Ratio.........................................................................................................................101416.5
Staffing for Infant Water
Activities.............................................................................................101416.8
Toddler Component in an Infant Care
Center.................................................................................101417
Infant Needs and Services
Plan....................................................................................................101419.2
Modifications to Infant Needs and Services
Plan........................................................................101419.3
Infant Care
Discipline..................................................................................................................101423.1
Infant Care
Transportation..............................................................................................................101425
Infant Care Isolation for
Illness...................................................................................................101426.2
Infant Care Food
Service................................................................................................................101427
Infant Care Personal
Services.........................................................................................................101428
Responsibility for Providing Care and Supervision for
Infants......................................................101429...
The budget director of Asada Inc., with the assistance of the controller, treasurer, production manager, and...
The budget director of Asada Inc., with the assistance of the
controller, treasurer, production
manager, and sales manager, has gathered the following data for
use in developing the budgeted income statement for June:
a. Estimated sales for June:
Product E: 96,000 units at $18 per unit
Product F: 43,500 units at $26 per unit
b. Estimated inventories at June 1:
Direct
materials:
Finished products:
Material TY‑1: 2,500
lbs.
Product E: 5,400 units at $11 per unit
Material AA‑5: 3,200
lbs. ...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- 4. Describe what technological unemployment is and how it is caused. According to Ball, how can...
- Give an example of a class containing attributes and operations. Instantiate (create) an object of your...
- For this option, students may suggest an alternative software system relative to their future or current...
- Below is the code i got from another expert Q&A but im not allowed to use...
- Based on your experiences and/or knowledge of Apple’s current products and services, does Apple’s strategy (as...
- Problem 12.82 A 45kg figure skater is spinning on the toes of her skates at 1.1rev/s...
- Photochronograph Corporation (PC) manufactures time series photographic equipment. It is currently at its target debt-equity ratio...
ADVERTISEMENT