Problem:
The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected costs for the event:
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Dinner (per person)
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$7
|
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Favors and program (per person)
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$4
|
|
Band
|
$1,898
|
|
Rental of ballroom
|
$899
|
|
Professional entertainment during intermission
|
$5,994
|
|
Tickets and advertising
|
$1,199
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The committee members would like to charge $38 per person for the evening's activities.
Requirement 1: Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend).
Requirement 2: Assume that last year only 220 persons attended the dinner-dance. If the same number attend this year, what price per ticket must be charged in order to break even? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Requirement 3: Offline: Prepare a CVP graph for the dinner-dance from zero tickets up to 590 tickets sold.