Mastery Problem: Breakeven Analysis Procrastinators Anonymous (PA) is hosting their annual convention this coming year in Dallas, TX. Although this is not typical of this organization, they wish to plan ahead to determine what the cost of the keynote banquet ticket should be. The ticket cost then can be included in materials that will be sent out prior to the convention. The banquet coordinator has determined the following costs: Rental of banquet facility $2,500 Entertainment for banquet $1,200 Cost of meal $12 Decorations $400 Printing costs $500 Favors per attendee $2 Requirements1: 1. Given the above information and assuming no profit will be made, what ticket price should be set if 500 procrastinators attend? If 750 people attend? 2. If a ticket price of $35 is set, how many procrastinators need to attend for PA to break even on their banquet? If the ticket price was $50? Use the roundup function to round up to the next integer (eg. 344.24 would be 345) 3. If fixed costs can be reduced by 10%, what is the breakeven point (in number of attendees) if the ticket price is $35. Use the roundup function to round up to the next integer. 4. If PA wishes to make a profit of $1,000 on the banquet and the ticket price is $35, how many procrastinators need to attend? Assume that fixed costs do not change from the initial amounts. Use the roundup function to round up to the next integer. 5. Create a CVP chart (see conference notes) for requirement 2 (ticket price of $35). Properly label all facets of the chart. 6. Using Goal Seek: a. How many attendees need to attend for the banquet to net EXACTLY $955 in profit (assuming $35 ticket price)? Format attendees to 5 decimal places. b. For a breakeven, what should be the EXACT ticket price (do not round) if EXACTLY 455 attendees show up at the banquet. Format the ticket price to 5 decimal places. 1 Verify that your answers are correct by plugging the answers into an income statement
Study Acers provides students with tutoring and help them save time, and excel in their courses. Students LOVE us!No matter what kind of essay paper you need, it is simple and secure to hire an essay writer for a price you can afford at StudyAcers. Save more time for yourself. Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more