The Red Lions Brotherhood is planning its annual Riverboat Extravaganza. The Extravaganza 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 Floorshow 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?

The Red Lions Brotherhood is planning its annual Riverboat Extravaganza. The Extravaganza 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 Floorshow 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?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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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) $ 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.)
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 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 even
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?
A nonprofit decides to provide free food for the homeless in Thanksgiving holidays. The manager wants to write a proposal to raise money from their donors. Assume that the project requires a fixed cost of $5,000 for staff and equipment. The variable cost such as utensils and food is $5 per person served. Based on the manager's experience, the manager estimates there will be 200 homeless people to serve. What is the price per person that the manager should put into his/her proposal? a.$5 b.$30 c.$25 d.$5,000
The Star Youth Soccer Club helps to support its 20 boys' and girls' teams financially, primarily through the payment of coaches. The club puts on a tournament each fall to help pay its expenses. The cost of putting on the tournament is $8,000, mainly for development, printing, and mailing of the tournament brochures. The tournament entry fee is $400 per team. For every team that enters, it costs the club about $75 to pay referees for the three- game minimum each team is guaranteed. If the club needs to clear $60,000 from the tournament, how many teams should it invite?
You own Lettuce Turnip the Beet, Inc., a vegetarian catering company. You have been hired by a local nonprofit to provide food for an upcoming fundraising event to promote community recycling. The nonprofit expects 100 people to attend the fundraising event. You have asked one of your staff members to estimate the cost of the event using the following information from three previous catering engagements: Engagement 1 Engagement 2 Engagement 3 Total cost of event $1,890 $1,785 $2,100 Cost per person $21 $17 $15 The staff member decides to use the high low method to predict costs and estimates that with 100 people in attendance, the total estimated costs will be $1,848. You are unsure of how the staff member came up with the estimate, so you ask the staff member to explain how they calculated the total estimated costs. This is what they emailed to you: I defined "x" as the number of people in attendance and calculated the number of…
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?
Wyoming Waters Swim Park sells individual and family tickets. With a ticket, each person receives a meal, three beverages, and unlimited use of the swimming pools. Wyoming Waters has the following ticket prices and variable costs for the year: Individual Family Sale price per ticket $35 $105 Variable cost per ticket 25 100 Wyoming Waters expects to sell one individual ticket for every three family tickets. Wyoming Waters' total fixed costs are $25,000. Requirement 2. Calculate the total number of tickets Wyoming Waters must sell to break even. Start by selecting the formula and entering the amounts to calculate the total number of tickets Wyoming Waters must sell to break even. (Abbreviations used: Weighted avg. CM = weighted-average contribution margin. Complete all input fields. For items with a zero value, enter "0".) (Fixed costs + Target profit) ÷ Weighted-avg. CM per unit = Required sales in units ( + ) ÷ =…
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…
6. The local non-profit symphony is planninga concert fundraiser. The organization estimates that 550 tickets can be sold for $16 person. The fixed costs are $720. The local chamber of commerce office will process ticket orders for a fee of $4 per ticket, to relieve the youth symphony of this responsibility. 1. How many tickets does your organization have to sell to break even? 2. How many tickets does your organization have to sell to earn a profit of $4320? 3. How much must your organization have in sales dollatrs to break even? (rounded to the nearest cent) 4. How much must your organization have in salesdollars to earn a profit of $4320? ( rounded to the nearest cent)? 5. What is the organization's margin of safety in Percentage and in sales dollars?
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?

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