Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

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) $15

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)$15
Favors and program (per person)$7
Band$1,500
Rental of ballroom$1,500
Professional entertainment during intermission$2,100
Tickets and advertising$700

The committee members would like to charge $51 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).

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.)

3.

Refer to the original data ($51 ticket priceper person). Prepare a CVP graph for the dinner-dance from zero tickets up to 450 tickets sold.

image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Accounting questions