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The child and family government benefits

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The child and family government benefits seminar was such a success that Advocates for Children will conduct a second seminar in an adjoining community. The executive director decides that this second seminar will attempt to maximize revenues. Consequently, no reduced fee schedule will be offered. All trainees will pay the full seminar fee. The seminar will take place in a smaller conference room than the earlier one. The room can only accommodate a maximum of 45 trainees. Here is the proposed budget for the seminar:

Proposed Seminar Budget

1. Conference room rental $175.00 $ 175.00
2. Audiovisual equipment rental 75.00
3. 4 presenters@ $500 2,000.00
4. 45 workbooks @ $15 675.00
5. 45 lunches @$12 540.00
6. 45 coffees @ $3.50 158.00
Subtotal $3,623.00

7. Indirect Costs @ 25% of $3,675.00 906.00

Subtotal $4,529.00

8. Profit Margin @ 5% of $4,594.00 227.00

Total $4,756.00

? You are the executive director. Following the checklist below, perform all the computations necessary to set a fee.
? What will your fee be?
? What is your break-even point?
? What is your go/nogo decision point?

Checklist (major fee-setting issues)
1. Direct and indirect costs
2. Depreciation and use allowance
3. Unallowable costs
4. Profit margins
5. Fixed and variable costs
6. Break even points
7. Market prices
8. Variable fee and sliding fee schedules

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The child and family government benefits seminar was such a success that Advocates for Children will conduct a second seminar in an adjoining community. The executive director decides that this second seminar will attempt to maximize revenues. Consequently, no reduced fee schedule will be offered. All trainees will pay the full seminar fee. The seminar will take place in a smaller conference room than the earlier one. The room can only accommodate a maximum of 45 trainees. Here is the proposed budget for the seminar:

Solution provided by:
Gaurav Agarwal, MS
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
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