Answer:
To maximize revenue based on current capacity, The Stadium Manager should set Premium Price for tickets.
Explanation:
If your aim is to maximize revenue based on the capacity of the stadium, Premium Price is your surest best.
Premium pricing is a type of pricing which involves establishing a price higher than your competitors to achieve a premium positioning.
You will attract the right kind of customers and when you set a premium price, you have raised the bar of expectation from your customers.
This will push the stadium to upgrade their customer service, their operations and delivery.
If this method is carried out properly by establishing club memberships and other marketing incentives, you will retain these premium customers and maximize revenue.
Answer:
$60.00
Explanation:
Calculation to estimate the stand-alone selling price
Hara Amount $ Note
Staff compensation $50.00
Mark up % 20%
Mark up amount $10.00
(20%*$50)
Standalone selling price of club fitting services $60.00
($50.00+$10.00)
Therefore the estimated stand-alone selling price will be $60.00
Answer:
Under the lower-of-cost-or- net realizable value basis of accounting for inventories, the value that Taylor should report for the TVs on the balance sheet is $350 × 5 = $1,750
Explanation:
The lower-of-cost-or- net realizable value basis of accounting for inventories values inventory at the lower of its cost or net realizable value. This basis of accounting gives a <em>faithful representation</em> to the users of the value of assets in inventory that firm holds. This is also <em>prudent</em> in that profits are not overstated in the Income statement.