What price per ticket must be charged in order to break even

Assignment Help Managerial Accounting
Reference no: EM132755915

Problem - The Hartford Symphony Guild is planning its annual dinner and dance. The committee has assembled the following expected costs for the event:

Dinner (per person) $38

Favours and program (per person) 4

Band 4,680

Rental of ballroom 3,066

Professional entertainment during intermission 1,840

Tickets and advertising 1,220

The committee members would like to charge $69 per person for the evening's activities.

Required -

1. Compute the break-even point for the dinner and dance (in terms of the number of people who must attend).

2. Assume that last year 180 people attended the dinner and dance. If the same number attend this year, what price per ticket must be charged in order to break even?

Reference no: EM132755915

Questions Cloud

Post the july journal entries to the t-accounts : Post the July journal entries to the following T-accounts and compute ending balances. Cash (111) Tax Preparation Revenue Prepaid Insurance
How they met a course competency or course objectives : This reflection journal also allows students to outline what they have discovered about their professional practice, personal strengths and weaknesses.
How large can first withdrawal be : Furthermore, you want to increase your withdrawals at 3% per year to keep up with inflation. How large can your first withdrawal be?
Analyze the results of the quantitative analysis : Analyze the results of the quantitative analysis. Provide recommendations to management of Paisley Industries based on the results of their 2018 operations
What price per ticket must be charged in order to break even : Assume that last year 180 people attended the dinner and dance. If the same number attend this year, what price per ticket must charged in order to break even
Find out the cash flows associated with the decision given : Find out the cash flows associated with this decision given that the tax rate applicable to the firm is 40%. ABC and Co. is considering a proposal to replace
Has your preceptor used either theory and to what result : Compare and contrast two change theories, and determine which theory makes the most sense for implementing your specific EBP intervention. Why?
Calculate the initial investment outlay : Calculate the initial investment outlay. A cosmetic company is considering introducing a new lotion. The manufacturing equipment will cost $5,60,000.
Differ from other applications of property : How do trade secrets differ from other applications of property?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Should exchange transactions be accounted

Prepare the required journal entries for 201 4 and 2015, and indicate whether each entry should be made to an unrestricted or a temporarily restricted fund.

  What are the major issues that need addressing

What are the major issues that need addressing - Suggest some possible issues, and strategies for dealing with those issues, that you might want to discuss with the founder.

  What a single cost driver rate will overprice

If a business offers both routine and specialized services, a single cost driver rate will overprice? both the routine and the specialized service

  What is the amount to be included in next year direct labor

What is the amount to be included in next year's direct labor budget? Each unit requires direct labor of 4.1 hours. The labor rate is $13.75 per hour

  Find estimated total carrying costs for the office fixtures

Geron Company manufactures a line of deluxe, the estimated total carrying costs for the office fixtures for the coming year based on their current schedule is

  Calculate the selling price per unit allowing for a profit

Calculate the selling price per unit allowing for a profit of 15% of the- selling price. Direct materials 40 square meters at Rs. 5.30 per square meter

  ACC00714 Managerial Accounting Assignment

ACC00714 Managerial Accounting Assignment Help and Solution, Southern Cross University - Assessment Writing Service - prepare the annual budget for 2021

  Find the operating income for the month of February

Direct Materials decrease by 4%; Direct Labour increase by 3%; variable overhead decreased by 6%; Find the operating income for the month of February

  Compute the number of units that fedora started

Find or Compute the number of equivalent units with respect to conversion cost. Determine the conversion cost per equivalent unit.

  How write report for managing director of orthodontic clinic

Write a report will be accepted with no penalty for the managing director of the orthodontic clinic The report should include an overview of the expected result

  Calculate the equivalent units of production

What was the amount in Devlin's beginning Finished Goods and Work in Process accounts for year 3 - Calculate the equivalent units of production

  How prepare the company budgeted balance sheet

Prepare the company's budgeted balance sheet. The beginning balance of retained earnings was $28,000, net income is budgeted to be $11,500, and dividends.

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