Your Scenario The Queensland Weightlifting Association (QWA), has been invited to bid for a four-day international weightlifting tournament. The event will take place in six months time. Although it would seem a welcome boost to the organisation to run this tournament, the QWA committee are concerned as to whether the event can be run profitably. The last time this event was run in Australia, the Western Australian Weightlifting Association hosted it and they made a loss of $20,000. The QWA committee has asked you to investigate probable income and expenditure and prepare a budget for next week's committee meeting. After some initial investigations you have come up with the following information. Venue Costs The Theatre of the Sleeman Sports Complex is available for the dates of this event. It is a great venue as it was used for the Commonwealth Games in 1982. The venue will cost a $75 per hour and it is expected that the event will start at 12:00 noon and finish at 8:00pm on each of the four days. Therefore is a need to hire the venue for 8 hours per day. The venue has excellent sound and lighting systems and therefore there is no need to bring in extra equipment. However, the venue manager does not allow users to have access to the sound/lighting control room. Instead, there is a requirement to pay for a sound/lighting system operator who will be hired by the venue manager. The cost of the sound/lighting system operator is $40 per hour. The venue has a maximum capacity of 3,000 persons. Equipment Costs Although the association has plenty of weightlifting equipment, the QWA committee think it appropriate to purchase a new bar and weights for the competition platform. A quote has been received from the supplier as follows: