Question
Event Type: Diamond $150 Gold $375 Platinum $450 Cost of Food and Beverage 20% of total sales Cost of Venue 22% of total sales Ticket
Event Type:
Diamond $150
Gold $375
Platinum $450
Cost of Food and Beverage 20% of total sales
Cost of Venue 22% of total sales
Ticket threshold 700
Cost of staff 11% of total sales (less than threshold)
cost of security 5% of total sales (less than threshold)
Cost of staff 18% of total sales (greater than threshold)
cost of security 10% of total sales (greater than threshold)
1.What was the total number of tickets sold and what was the total net profit for all five events?
What was the average cost for food and beverages for all live events?
Which event was the most profitable? The least profitable
2.What would be the total sales for the Fashion Show event if the Gold ticket pricing increased to $400
What would be the total net profit of the three Diamond events (Prom Dress Dinner and Battle of the Chefs) if the ticket price had been $250?
The importance of good security is an increasing concern at events. The financial team proposes increasing the cost of security to 8% and 12% depending on how many tickets are sold below or above 700. What would be the increase in total expenses and decrease in total net profit?
Which would result in a higher total net profit for the five events: changing the cost of food and beverage to 18% or changing the cost of venue to 20%?
3.Compare the five events, showing the total sales and total expenses for each. Use a column chart including appropriate value-added features. Move the chart to a separate sheet and name the sheet Ttl Sales vs. Ttl Expenses Chart.
Compare the four expense categories of the five events. Use a column chart including appropriate value-added features. Move the chart to a separate sheet and name the sheet Expense Chart,
Show the percentage of total net profit accounted for by each of the five events. Use a pie chart with appropriate value-added features. Move the chart to a separate sheet and name the sheet Net Profit Chart.
4.Use the Goal Seek tool to calculate the answers to the following questions:
For the Prom Dress Dinner, how many tickets need to be sold for a net profit of $15,000?
What percentage of Cost of Food and Beverage is needed to increase the Battle of the Chefs event's net profit by 10%? (Hint: use a formula to calculate the 10% increase, then use Goal Seek.)
5.Include relevant comments describing how the price per ticket and security expense are calculated.
You want to show the financial team remembers how certain things are calculated in the break-even analysis. Insert a comment explaining how the IF statement is used to calculate the Cost of Staff.
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