Question
Needing help with the following question. The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected costs for
Needing help with the following question.
The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee
has assembled the following expected costs for the event:
Dinner (per person) $14
Favors and program (per person) $7
Band $1,900
Rental of ballroom $1,200
Professional entertainment during intermission $2,000
Tickets and advertising $600
The committee members would like to charge $59 per person for the evening's activities.
Required: 1. Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend).
___________Persons
2. Assume that last year only 250 persons attended the dinner-dance. If the same number attend this year, what price per ticket must be charged in order to break even? (Round your answer to 2 decimal places.)
Ticket price per person to break even__________.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started