Disney raises theme park ticket prices, again. You've got to pay more to play in the Magic Kingdom, because Walt Disney just raised its ticket prices again, breaking the $100 mark. A one-day ticket to the Walt Disney World Resort's flagship theme park, the Magic Kingdom, now costs $105, up from $99. Prices had been jacked up by $4 just last year. The price of admission applies to anyone 10 years and older entering the Orlando-area theme park. Younger children, aged 3 to 9, pay $99 to enter the Magic Kingdom, compared to $94 last year. Prices also increased for the other Disney World theme parks -- EPCOT, the Animal Kingdom Park and Hollywood Studios -- to $97 for visitors aged 10 and older, compared to $94 last year. Children aged 3 to 10 now pay $91 for a single-day ticket to those parks, compared to $88 last year. The price hikes seem to be working for parent company Walt Disney World Resorts, which reported a 7% increase in revenue year-over-year, largely from its parks. "Increased guest spending was primarily due to higher average ticket prices for admissions at our theme parks," Walt Disney Company (DIS) said in a financial report. A Disney spokeswoman said the "vast majority" of visitors buy the multi-day passes, which can knock the price down to $96 per day for a two-day ticket, or $63 per day for a five-day ticket. She also said that a ticket for a single day at Walt Disney World buys 16 hours of entertainment.

1. What is the price of a one-day ticket to the Magic Kingdom?

2. Given the income elasticity of demand how do we know if a trip to Disney World is a normal good or an inferior good?

3. The news article tells us that with ticket prices rising, revenue is increasing. What does this tell us about the price elasticity of demand of a trip to Disney World?

Using the 2009 Budget (Money is given in Canadian dollars), prepare a break even analysis to find:

1. At what trip fee does JUDES break even on the trips?

2. At what participant level does JUDES break even on the trips?

Please show all formulas and calculations so I can follow along and learn how to apply the concepts for the future.

Problem 1: How much time do Americans living in or near cities spend waiting in traffic, and how much does waiting in traffic cost them per year? The file Congestion includes this cost for 31 cities. (Source: Data extracted from “The high Cost of Congestion,” Time, October 17, 2011, p.18.)

1. a) Compute the mean, median, first quartile, and third quartile.

2. b) Compute the range, interquartile range, variance, and standard deviation.

3. c) Compute the covariance between the time spent sitting in traffic and the cost of sitting in

   traffic.

4. d) Computethecorrelationbetweenthetimespentsittingintrafficandthecostofsittingin

   traffic.

5. e) Based on the results of (a) through (d), what conclusions might you reach concerning the

   time spent waiting in traffic and the cost of waiting in traffic?

6. f) Create a histogram for each of the two variables: the time Americans living in or near cities

   spend waiting in traffic and the cost of waiting per year.

7. g) Create a scatter plot for the two variables and fit a straight line to the points. Show the

   equation of the fitted line.

In January 2017, Mitzu Co. pays $2,600,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $750,000, with a useful life of 20 years and a $85,000 salvage value. A lighted parking lot near Building 1 has improvements (Land Improvements 1) valued at $360,000 that are expected to last another 12 years with no salvage value. Without the buildings and improvements, the tract of land is valued at $1,890,000. The company also incurs the following additional costs:

Cost to demolish Building 1 $ 339,400
Cost of additional land grading 191,400
Cost to construct new building (Building 3), having a useful life of 25 years and a $400,000 salvage value 2,302,000
Cost of new land improvements (Land Improvements 2) near Building 2 having a 20-year useful life and no salvage value 168,000

Allocate the costs incurred by Mitzu to the appropriate columns and total each column.

2. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1, 2017.

3. Using the straight-line method, prepare the December 31 adjusting entries to record depreciation for the 12 months of 2017 when these assets were in use.

P6.10 The Resolute Resort hotel currently operates at 75% occupancy, using a rack rate for all rooms of $60 and a marginal cost per room sold of $ 8 . calculate the occupancy figures for discount grid using discount percentages of 5%,15%,and 20%

P6.11 Motley Motel's potential average room rate is calculated to be $62.Assume that this motel had three market segments.Vacation travelers use 75% of the room nights and are charged 100% of the rack rate. business travelers use 15% of the room nights and are charged 90% of the rack rate.sport teams acounts for 10% of the room nights and are charged 80% of the rack rate.

a. calculate the room rate by market segment.

2. Prove that your calculations are correct,assuming that total annual room nights are 7,300.

All Clean of Alberta manufactures individual shampoos for hotel/motel clientele. The fixed manufacturing overhead costs for 2019 will total $576,000. The company uses good units finished for fixed overhead allocation and anticipates 300,000 units of production. Good units finished on average 92 percent of total units produced. During January, 20,000 units were produced. Actual fixed overhead cost per good unit averaged $2.82 in January.

Required (20 Points - Show formula and calculation for full points).

A. Determine the fixed overhead rate for 2019.

B. Determine the fixed overhead static-budget variance for January.

C. Determine the fixed overhead production-volume variance for January.

D. Determine the fixed overhead rate variance for January.

enny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $8.1 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. The land would net $10.9 million if it were sold today. The company now wants to build its new manufacturing plant on this land; the plant will cost $22.1 million to build, and the site requires $960,000 worth of grading before it is suitable for construction.

What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole number, e.g., 1,234,567.)

Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land six years ago for $5.1 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $5.4 million. The company wants to build its new manufacturing plant on this land; the plant will cost $12.6 million to build, and the site requires $780,000 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? (Enter your answer as a positive value in dollars, not millions of dollars, e.g., 1,234,567.)

6.   Jiffy Park Corp. has annual sales of $50,705,000, an average inventory level of $15,015,000, and average accounts receivable of $10,015,000. The firm's cost of goods sold is 85% of sales. The company makes all purchases on credit and has always paid on the 30th day. However, it now plans to take full advantage of trade credit and to pay its suppliers on the 40th day. The CFO also believes that sales can be maintained at the existing level but inventory can be lowered by $1,950,000 and accounts receivable by $1,950,000.

      a.   What is Jiffy Park’s cash conversion cycle (CCC) prior to the changes proposed?

      b.   What is Jiffy Park’s CCC after implementing the suggested changes?

      c.   What is the net change in Jiffy Park’s CCC given what you just calculated above?