Determine the solution to each of the following independent cases: a. Collings College has annual fixed operating
Question:
Determine the solution to each of the following independent cases:
a. Collings College has annual fixed operating costs of \($12,500,000\) and variable operating costs of
\($1,000\) per student. Tuition is \($8,000\) per student for the coming academic year, with a projected enrollment of 1,500 students. Expected revenues from endowments and federal and state grants total
\($250,000\). Determine the amount the college must obtain from other sources,
b. The Collings College Student Association is planning a fall concert. Expected costs (renting a hall, hiring a band, etc.) are \($30,000\). Assuming 3,000 people attend the concert, determine the break-even price per ticket. How much will the association lose if this price is charged and only 2,700 tickets are sold?
c. City Hospital has a contract with the city to provide indigent health care on an outpatient basis for \($25\) per visit. The patient will pay \($5\) of this amount, with the city paying the balance ($20). Determine the amount the city will pay if the hospital has 10,000 patient visits.
d. A civic organization is engaged in a fund-raising program. On Civic Sunday, it will sell newspapers at \($1.25\) each. The organization will pay \($0.75\) for each newspaper. Costs of the necessary permits, signs, and so forth are \($500\). Determine the amount the organization will raise if it sells 5,000 newspapers.
e. Christmas for the Needy is a civic organization that provides Christmas presents to disadvantaged children. The annual costs of this activity are $5,
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