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) $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. |
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