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) $
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) | $ 16 |
---|---|
Favors and program (per person) | $ 2 |
Band | $ 1,250 |
Rental of ballroom | $ 500 |
Professional entertainment during intermission | $ 750 |
Tickets and advertising | $ 2,500 |
The committee members would like to charge $28 per person for the evenings activities.
Required:
1. What is the break-even point for the dinner-dance (in terms of the number of persons who must attend)?
2. Assume that last year only 400 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 the nearest whole dollar amount.)
1. Break-even point | ?# | persons |
2. Ticket price per person to break even | ?# |
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