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 evenings activities. a. Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend). b. 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.) c. Refer to the original data ($51 ticket price per person). Prepare a CVP graph for the dinner-dance from zero tickets up to 450 tickets sold. |
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