Prepare a columnar summary of performance

Assignment Help Finance Basics

Reference no: EM1364549

Parks Canada prepared the following budget for one of its national parks for 2002:

Revenue from fees $5,000,000
Variable costs (miscellaneous) 500,000
Contribution margin $4,500,000
Fixed costs (miscellaneous) 4,500,000
Operating income $ 0

The fees were based on an average of 50,000 vehicle-admission days (vehicles multiplied by number of days in the park) per week for the 20-week session, multiplied by average entry and other fees of $5 per vehicle-admission day.
The season was booming for the first four weeks. However, there were major forest fires during the fifth week. A large percentage of the park was scarred by the fires. As a result, the number of visitors dropped sharply during the remainder of the season.

Total revenue fell $1 million short of the original budget. Moreover, extra firefighters had to be hired at a cost of $360,000. The latter was regarded as a fixed cost.

Prepare a columnar summary of performance, showing the original (static) budget, sales volume variances, flexible-budget variances, and actual results.

Reference no: EM1364549

Questions Cloud

Illustrate what will be the accumulated debt : Assuming that the budget stays the same except for the interest on the debt for 10 years, illustrate what will be the accumulated debt. What will the size of the budget be after 10 years.

Liability insurance-expected after tax earnings : Suppose that the Lai Jean Co. expects before tax earnings of 5 million this coming year, assuming no liability losses. However, there is a 2 percent chance that Lai will lose a $10 million lawsuit during the year.

Find the present value of loan : Assume you are planning purchasing a new car. The dealer offers to loan you $20,000 in exchange for a payment of $5,000 at the end of each of the next 5-years.

What is proportion of workers receiving disability benefits : We also observe that the proportion of workers receiving disability benefits is much lower in the US than in the latter two nations. Are these findings consistent with the work-leisure model.

Prepare a columnar summary of performance : The fees were based on an average of 50,000 vehicle-admission days every week for the twenty week session, multiplied by average entry and other fees of $5 per vehicle-admission day.

Write statement that calls add to compute sum of sales : Add is a method that accepts two int arguments and returns their sum. Write a statement that calls add to compute the sum of euroSales and asiaSales and that stores this value in eurasiaSales .

Compute the electric flux through a rectangular plane : compute the electric flux through a rectangular plane.

Explain the nature and causes of the problem : Explain the nature and causes of the problem and What other alternatives should he consider in addition to or instead of exit interviews?

Explain how does this baby boom affect the price : Suppose that in the year 2010 the number of births is temporarily high. Explain how does this baby boom affect the price of babysitting services in 2015 and2025.

User Account

All Pages