Determining the Break Even Point and Ticket Price per Person
Not what you're looking for?
** 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
________________________________________
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.
Purchase this Solution
Solution Summary
This solution provides a complete computation of the given accounting problem formatted in Excel.
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 ...
Purchase this Solution
Free BrainMass Quizzes
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.