What must the price of each ticket be to break even

Assignment Help Managerial Accounting
Reference no: EM133094335

Question - Snow White is planning a fund-raising party for the Seven Dwarfs. The group has put the following costs together for the event:

Buffet dinner (per Person) $14

Drinks (Per Person) $6

Band $3600

Hall rental $3400

Servers and collectors $2400

Tickets and advertising $1600

The suggested price is $60 per person for the event.

Required -

1. Compute the break-even point for the event.

2. Last year only 250 people attended the event. If we assume the same number of people will attend this year, what must the price of each ticket be to break even?

3. If you were given a budget of $30,000 for the party with 300 people planning to be invited, could you have the party? If so, what could you do with any excess money?

Reference no: EM133094335

Questions Cloud

Draft of Persuasive Research Paper : Write a 10-to-12 page rough draft of your Persuasive Research Paper - Submit to the Writing Center for feedback
Statement in the development process : Using the five step plan outlined in chapter 4 in text develop your own personal vision and mission statement.provided not only the final statement in the devel
Discuss examples of extremes of what families : Discuss examples of the extremes of what families might look like at all levels of society. How will these different families live and work?
Stimulate recall of prior knowledge : You have been assigned to deliver training on assertiveness skills.
What must the price of each ticket be to break even : Last year only 250 people attended the event. If we assume the same number of people will attend this year, what must the price of each ticket be to break even
Performance appraisal system : Select at least one classification of employees compensated with either wages or salaries at the management, professional or non-management level.
Understanding of the company strategy : Jsing the case and appropriate theory of motivation determine if the reward strategy is successful or not? Based on your understanding of the company's strategy
Defining the selection process : The employee selection process can include various steps that ultimately result in selecting the best available candidate(s) for the job.
Calculate Yolo materials price variance for the month : Yolo Inc.'s standard quantity per unit of output is 9.4kg at a standard price of $16.90/kg. Calculate Yolo materials price variance for the month

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Analyse the common wealth bank dividend policy

Analyse the common wealth bank dividend policy. Should the company follow a progressive dividend policy? Critically evaluate factors that affecting corporate

  Find how many japanese maples must mountain maples sell

Find How many Japanese Maples must Mountain Maples sell in a year to break even? At this sales volume, how many Butterfly and Moonfire trees are sold?

  Preview of financial accountant-forecasting

Generally forecasting and planning is considered the preview of the financial accountant or the forecasting and planning department.

  Find the company total asset turnover for year two

At the end of Year 1 were $1,396,000. Sales amounted to $1,360,000 in Year 2. The company's total asset turnover for Year 2 is closest to

  Determine the income from operations for last year

Determine the income from operations for last year and the maximum income from operations that could have been realized during the year.

  By how much will monthly profits increase or decrease

The normal selling price is $15 per unit. The company's capacity is 10,000 units per month. By how much will monthly profits increase or decrease

  Explain the importance of segregating the timekeeping

Explain the importance of segregating the timekeeping, payroll preparation, personnel and paycheck distribution functions

  Why are management support and cross-functional involvement

Why are top management support and cross-functional involvement crucial when attempting to implement an activity-based costing system?

  How much money must have in bank account today

If the account pays 0.3?% interest per? month, how much money must you have in your bank account today to support your future? needs?

  Prepare schedule reflecting an incremental analysis

Prepare schedule reflecting an incremental analysis of this proposal. Indicate the effect the acceptance of this order might have on the company's income

  What the maximum amount will be willing to spend

An estimated salvage value of $10,000. If Shirt Co. has a required rate of return of 12%, the maximum amount they will be willing to spend for this machine is

  Evaluate how much will net operating income increase

If this year's sales increase by RM75,000 and fixed expenses do not change, how much will net operating income increase? What is the product's CM ratio?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd