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What is the contribution margin per guest

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Question - The Art institute is planning its annual banquet. Every year 450 guests attend the banquet, paying $120 per ticket. The cost of dinner is estimated at $18,200 ($9,000 in fixed costs and $9,200 in variable costs), and the cost of decoration, PR and invitations is estimated at $25,000 ($21,500 in fixed costs and $3,500 in variable costs). What is the contribution margin per guest? What is the total net income?

Reference no: EM133134239

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