Break-Even Analysis and CVP Graphing

Horace Society is planning its annual Western Fair Raceway Gala. The Gala committee has assembled the following expected costs for the event:

Dinner (per person) $10

Gaming tokens and program (per person) $2

Prize payouts $4,300

Tickets and advertising $800

Private box suite rental $1,700

Lottery licences $200

The committee members would like to charge $40 per person for the evening's activities.

1. Using the $40 ticket price per person amount, prepare a CVP graph for the Gala from zero tickets up to 600 tickets sold.