(SOLVED) The Antwerp Lions play in the Flemish Football League The


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The Antwerp Lions play in the Flemish Football League. The Lions play in the Antwerp Stadium (owned and managed by the City of Antwerp), which has a capacity of 30 000 seats (10 000 lower-tier seats and 20 000 upper-tier seats). The Antwerp Stadium charges the Lions a per-ticket charge for use of their facility. All tickets are sold by the Reservation Network, which charges the Lions a reservation fee per ticket. The Lions budgeted net revenue for each type of ticket in 2007 is calculated as follows:
The budgeted and actual average attendance figures per game in the 2007 season are:
There was no difference between the budgeted and actual net revenue for lower-tier or upper-tier seats.
The manager of the Lions was delighted that actual attendance was 10% above budgeted attendance per game, especially given the depressed state of the local economy in the past six months.
Required
1. Calculate the sales-volume variance for individual ‘product’ net revenues and total net revenues for the Antwerp Lions in 2007.
2. Calculate the sales-quantity and sales-mix variances for individual ‘product’ net revenues and total net revenues in 2007.
3. Present a summary of the variances in requirements 1 and 2. Comment on the results.

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