Planning an Event from an Accounting Perspective
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We are planning a fundraiser. We plan to charge $15 per ticket. We can rent a facility for $300.
Catered food will cost of $4 per meal, plus $100 for setting up the equipment.
A band would be hired to play for $200 plus 5% of the "gate" (gross ticket sales).
The fundraiser would like to net at least $4,000 from the event.
Question: How many tickets (no fractions) must be sold to achieve our goal? (Please provide specific detail in response).
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Solution Summary
The solution plans an event from an accounting perspective.
Solution Preview
First, this is a variation of the break even analysis.
Second, identity the inputs:
1. Selling price = $15
2. Variable cost = $4 + ...
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