Reference no: EM131287777
The Public Budgeting and Finance Association is planning its annual conference. The conference hotel has quoted the following prices for services:
Thursday afternoon
Conference facilities rental: $425
Coffee-break service: $10 per person
Audiovisual equipment rental: $55
Evening reception: $25 per person
Friday
Conference facilities rental: $750
Coffee-break service, morning and afternoon: $15 per person
Continental breakfast: $15 per person
Luncheon: $20 per person
Audiovisual equipment rental: $150
Sat morning
Conference facilities rental: $375
Continental breakfast: $15 per person
Coffee-break service: $10 per person
Audiovisual equipment rental: $75
Program materials and marketing would cost about $550. The association charged $130 for each participant last year and would like to use the same price this year.
a) Determine the break-even attendance level.
b) Suppose the association wanted to encourage student participation by charging a rate that would cover only the costs directly caused by their attendance. What price would you charge?
c) Prepare a budget for the event if you expect 110 people to attend.
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