Question

Score: 1.2 of 7 pts 2 of 5 (2 complete) HW Score: 10.22%, 3.07 of 30 pts x E7-29A (similar to) s Question Help The New Mexico State Fair is one of the largest state fa i (Click the icon for additional information about the fa More Info Х a venda view add More Info x Assume the following schedule of fees for food vendors (Click the icon to view the schedule of fees.) Fee Fixed/Variable It has a food booth that requires 13 feet of front frontage and is 15 feet deep. Lunar Concessions expects to have sales averaging $4,500 per day for each of the 14 days of the fair. It has a total of four employees who will work the fair throughout the entire 14-day period. Lunar Concessions pays for each employee's fair admission and parking. Assume that the employee wages for the 14-day period are expected to total $6,400. Concession fees • $9 per linear foot for ground service fees (front footage x depth) • 18% of concessions (food sales) • $35 per 14-day parking permit • $340 for 100-amp electrical service • $55 per 14-day fair admittance pass one is included with basic rental agreement) Variable Electrical service Fixed Fixed Fixed Print Done Employee wages Fair admission fees Ground service fees Parking permit fees Fixed Print Done Fixed Requirement 2. What is the projected total fee that Lunar Concessions will need to pay to The New Mexico State Fair assuming it meets its expected sales level for each of the 14 days of the fair? Variable Fee: Fixed Fee: Total Fixed Fee Total Fee to The New Mexico State Fair Choose from any list or enter any number in the input fields and then click Check Answer. ? 3 parts remaining Clear All Check Answer

Answer 1

Calculation Amount Amount Particulars Variable fees Concession fees Fixed fees ($4,500 * 14*20%) $ 12,600 Employee wages $ 6,400 Ground service fee (13feet * 15 feet depth * $9) $ 1,755 Parking permit fees ($35 * 4 employees) $ 140 Electrical service $ 340 ($55 * 3 employees, 1 is Fair admission fees $ 165 $ 8,800 included in agreement) Total fee to the New Mexico state fair is $ 21,400 I hope this solves your doubt. Feel free to comment if you still have any query or need something else. I'll help asap. Do give a thumbs up if you find this helpful.