An organization is organizing a group dance competition. The organizers projected an attendance of 100 people. The estimated rental fee for the venue is $150 and the winning team group will get $500 in cash. How much should the organizers charge for a ticket to break-even?
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An organization is organizing a group dance competition. The organizers projected an attendance of 100 people. The estimated rental fee for the venue is $150 and the winning team group will get $500 in cash.
How much should the organizers charge for a ticket to break-even?
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- The members of the city cultural center have decided to put on a play once a night for a week. Their auditorium holds 600 people. By selling tickets, the members would like to raise $2,700 every night to cover all expenses. Let d represent the number of adult tickets sold at $6.50. Let s represent the number of student tickets sold at $3.50 each. If all 600 seats are filled for a performance, how many of each type of ticket must have been sold for the members to raise exactly $2,700? At one performance there were two times as many student tickets sold as adult tickets. If there were 360 tickets sold at that performance, how much below the goal of $2,700 did ticket sales fall?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) $ 30 Favors and program (per person) $ 3 Band $ 1,260 Rental of ballroom $ 630 Professional entertainment during intermission $ 1,260 Tickets and advertising $ 3,150 The committee members would like to charge $54 per person for the evening’s activities. Required: 1. What is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. Assume that last year only 200 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 the nearest whole dollar amount.)The committee members would like to charge P300 per person for the evening’s activities.Assume that only 250 persons are expected to attend the extravaganza, what ticket price must be charged to break-even.
- [The following information applies to the questions displayed below.] 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) $ 23 Favors and program (per person) $ 4 Band $ 780 Rental of ballroom $ 390 Professional entertainment during intermission $ 260 Tickets and advertising $ 1,170 The committee members would like to charge $40 per person for the evening’s activities. Required: 1. What is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. Assume that last year only 100 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 the nearest whole dollar amount.) 1. Break-even point persons 2. Ticket price per person to break evenThe 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) $ 11 Favors and program (per person) $ 2 Band $ 1,140 Rental of ballroom $ 570 Professional entertainment during intermission $ 760 Tickets and advertising $ 1,330 The committee members would like to charge $32 per person for the evening’s activities. Required: 1. What is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. Assume that last year only 100 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 intermediate calculations and final answer to the nearest whole dollar amount.)Chi Omega Sorority is planning its annual Riverboat Extravaganza. The Extravaganza committee has assembled the following expected costs for the event: Dinner (per person) . . . . . . . . . . . . . . . . . . . . . $7 Favors and program (per person) . . . . . . . . . . . $3 Band . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,500 Tickets and advertising . . . . . . . . . . . . . . . . . . . $700 Riverboat rental . . . . . . . . . . . . . . . . . . . . . . . . $4,800 Floorshow and strolling entertainers . . . . . . . . . . $1,000 The committee members would like to charge $30 per person for the evening’s activities. Required: Compute the break-even point for the Extravaganza (in terms of the number of persons that must attend). Assume that only 250 persons attended the Extravaganza last year. If the same number attend this year, what price per ticket must be charged to break even? Refer to the original data ($30 ticket price per person). Prepare a CVP graph for…
- The workshop organizers for a company is planning to offer training for financial literacy. The organizers are planning to charge participants $150 to attend. It costs $1200 to rent the room. The facilitator charges $850 per day. The presentation equipment will have to be rented at $580 and promoting the event will cost 370. The handout cost per participant is $15 and the organizers allocated a cost of $5 for light snacks per person. How many people should participate for the company to break even?The manager at the Uviewum Classic Cinema is concerned about the impact of the internet on movie attendance. They have hired you to determine the number of movie goers that must view the movie to break even on a film. Each film is played for one month at this theater. When a film is rented Uviewem must pay a $7,000 fee plus 5% of the ticket sales. The admissions price to the movie is $12.00 per person. The mall rents the space to the theater for $3,000 per month. The theater pays a manager/ticket taker $3,200 per month and the concessions workers are paid $ 1,800 per month. Assume that each moviegoer spends $7.00 on concession products and that the cost of the items consumed is $3.00. Compute the number of paying attendees (our internal control is excellent and there are no freebies) that must view the movie during the month in order to breakeven. a) List and total the fixed costs associated with showing a film at this theater? b) List and total the variable costs associated with each…The Serenity Org. is planning its annual Riverboat Extravaganza. TheExtravaganza committee has assembled the following expected costs for the event: Dinner per person P 70; Programs and souvenir per person 30; Orchestra 15,000; Tickets and advertising 7,000; Riverboat rental 48,000; Floor show and strolling entertainment 10,000. The committee members would like to charge P300 per person for the evening’s activities. Assume that only 250 persons are expected to attend the extravaganza, what ticket price must be charged to breakeven? A. P420B. P350C. P320D. P390
- Assume that you are responsible for planning a banquet for your school’s accounting club. The banquet will feature a dinner, followed by a speaker. The costs associated with the banquet are as follows: Meals Beverages (coffee and tea) Use of banquet room Speaker’s fee $10 per person $1 per person $50 $100 Assume that 50 students will attend the banquet. If you want to break even on this event, how much do you need to charge for a ticket? Please explain your answer and how it relates to Chapter 19.A local business plans to invest $800 to host a fun run, and they expect to sell tickets worth $9,000 on the day of the event. If it rains, they won’t sell any tickets and the business will lose all the invested money. The weather forecast for the day of the fun run is a 35% chance of rain. Is this a good investment?Olga was planning to set up a business where she would purchase paintings for $1,050 per unit and sell them for $1,800 per unit. She wanted to conduct a break-even analysis and identified the following costs for running her business: $4,470.00 per month for store leasing, $54 per month website hosting fee, $5,150 per month for staff salary, $2,040 per month for advertising costs, and $25 per unit for labour charges to pack the paintings. a. How many paintings would she have to sell per month to break-even? Round up to the next whole number b. If she wants to make a profit of $24,000 in a month, how many paintings would she have to sell? Round up to the next whole number