Determining the Break Even Point and Ticket Price per Person
** Please see the attached file for the properly formatted problem description **
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) $7
Favors and program (per person) $4
Band $1,898
Rental of ballroom $899
Professional entertainment during intermission $5,994
Tickets and advertising $1,199
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The committee members would like to charge $38 per person for the evening's activities.
Requirement 1:
Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend).
Break-even point persons
Requirement 2:
Assume that last year only 220 persons attended the dinner-dance. If the same number attend this year, what price per ticket must be charged in order to break even? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Ticket price per person $
Requirement 3:
Offline: Prepare a CVP graph for the dinner-dance from zero tickets up to 590 tickets sold.
Solution Preview
** Please see the attached document for the complete solution response **
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) $7
Favors and program (per person) $4
Band $1,898
Rental of ballroom $899
Professional entertainment during intermission $5,994
Tickets and advertising $1,199 ...
Solution Summary
This solution provides a complete computation of the given accounting problem formatted in Excel.