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The University Orchestra Club (UOC) is planning its annual dinner-and-concert event. They expect the following costs for the event: Dinner cost per person $22 Fees
The University Orchestra Club (UOC) is planning its annual dinner-and-concert event. They expect the following costs for the event: Dinner cost per person $22 Fees for a magician show $300 Advertising costs for the event $200 Programme (per person) $1 Drinks per person $11 Rental of the venue $800 Costs of renting and setting up tables and chairs $250 Ticket sales price (per person) $49.50 Required (5 marks in total): A. What is the breakeven point for the event in number of tickets sold? The number of tickets is B. What is the breakeven point in sales? The break even point is $ C. The committee budgets for sales of 160 tickets. What is the margin of safety in sales? The margin of safety iss D. Assume that last year only 80 tickets were sold for this event. If this year also 80 tickets are sold, how high would the ticket price have to be to break even? ROUNDED TO THE NEAREST DOLLAR, the ticket price would have to be
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