You are a meeting planner who was just contacted by an out-of-town client to produce an "Indy 500" high roller party for 500 VIPs at the Westin Harbour Castle Hotel in Toronto.You are purchasing a band for $3,000. You are estimating your racing flag centerpiece cost (material and labor) to be $20 per table (50 tables). You are renting black and white checkedchaircovers ($4.95 each) from a local linen company that will install the covers. You are estimating your dragster car rental fees to be $850. You estimate the lights will cost you $1,200, the sound will cost you $1,500, and staging will cost you $700. All other pieces of the room decor will cost approximately $1,800 for the room decor. You are paying a cost of $400 for storage for the decor. Your entertainers include two Las Vegas showgirls, four roller blade girls, and two pit-crew members, costing you $300 per person. Each entertainer will need to be costumed. You are renting the costumes from Williams Costume Shop at $65 per costume. You estimate your tech labor(AV) to cost $900. You are charging your client a markup of 30% of the estimated charges. The meal for the event will be charged at $92 per person, which you will not be charging any additional mark up for. The bar will be a host bar at $7.00 per drink and you are estimating 3 drinks per person.

ACTUAL COSTS

-505 guests actually attended the event

-The linen company neglected to inform you of the additional $1.50-per-chair installation cost.

-The showgirls cost you $450 each.

-The AV labor cost was $800.

-Williams costume shop raised the price of their costumes to $80 a piece.

-However, the showgirl costumes are $150 apiece.

-Lights were $1,100.

-The Host bar ended up with sales of $12,650

-Sound cost $2,800

-A $100 pick-up and delivery fee was added to the dragster car rental cost.

-All other costs were as estimated.

-Use the following worksheet to calculate the:

(A) markup based on estimated total client costs,

(B) estimated total client costs, not including markup,

(C) Actual Markup

(D) actual total client costs, not including mark up and

(E) the variance between the estimated total client costs and actual client costs without markup F) Total actual client cost less estimated total quote=total variance

Transcribed Image Text:

A B C E Description Estimated Markup Estimated Total Client Costs Actual Markup Actual Total Client Costs Variance Meal Food Beverage Entertainment Band Entertainers Centerpieces Room Dcor Storage Dragster Chair Covers Decor Costumes Entertainers Sound Lights Staging Labor Totals Tech Actual Total Cost including markup Total Estimated Cost including markup A B C E Description Estimated Markup Estimated Total Client Costs Actual Markup Actual Total Client Costs Variance Meal Food Beverage Entertainment Band Entertainers Centerpieces Room Dcor Storage Dragster Chair Covers Decor Costumes Entertainers Sound Lights Staging Labor Totals Tech Actual Total Cost including markup Total Estimated Cost including markup

Answer rating: 100% (QA)

Here are the calculations based on the provided information A Markup based on estimated total client costs textMarkup 30textTotal Estimated Costs text... View the full answer