Managerial Accounting Problem
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Rose Bowl sells tickets for $100 per person and has a capacity of 100,000 people. Each person buys on average $20 of food and trinkets. The cost of providing the food, trinkets, guards, ticket saleperson and clean up is $10 per person. The fixed cost of renting the Rose Bowl and paying the teams is $10,000,000. Television pays $5,000,000 for the right to broadcast the game.
How many tickets must be sold to have a profit of $3,000,000? (Assume no taxes.)
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Solution Summary
The solution contains calculations of number of tickets that must be sold to earn targeted profit.
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