Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. (20 points) Create a spreadsheet to calculate your projected total costs, total revenues, and total profits for giving a seminar on cost estimating. Make

image text in transcribed

2. (20 points) Create a spreadsheet to calculate your projected total costs, total revenues, and total profits for giving a seminar on cost estimating. Make the following assumptions: You will charge $600 per person for a two-day class (i.e., the class fee). Your fixed costs include $500 total to rent a room for both days, setup fees of $400 for registration, and $300 for designing a postcard for advertising. You will not include your labor costs for this estimate, but you estimate that you will spend at least 150 hours developing materials, managing the project, and giving the actual class. You would like to know what your time is worth given different scenarios. You will order 5,000 postcards, mail 4,000, and distribute the rest to friends and colleagues. Your variable costs include the following: a. $5 per person for registration plus 4 percent of the class fee per person to handle credit card processing, assume that everyone pays by credit card b. $.40 per postcard for printing if you order 5,000 or more c. $.25 per postcard for mailing and postage d. $25 per person for beverages and lunch e. $30 per person for class handouts Calculate your profits based on each of the following numbers of students who might attend: 10, 20, 30, 40, 50, and 60. In addition, calculate what your time would be worth per hour based on the number of students. (Please for this question, you need only to submit your Excel file)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forensic And Investigative Accounting

Authors: Professor D. Larry Crumbley, Lester E. Heitger, G. Stevenson Smith

8th Edition

0808046241, 9780808046240

More Books

Students also viewed these Accounting questions

Question

If so, what would you do?

Answered: 1 week ago