Thursday afternoon Conference facilities rental &nbs
Thursday afternoon Conference facilities rental $425
Coffee-break services $10 PER PERSON
Audiovisual equipment rental $55
Evening reception $25 PER PERSON
Friday Conference facilities rental $750
Coffee-break services, morning and $15 PER PERSON
afternoon
Continental Breakfast $15/PERSON
Luncheon $20 PER PERSON
Audiovisual equipment rental $150
Saturday Afternoon Conference facilities rental $375
Continental Breakfast $15 PER PERSON
Coffee-break services $10 PER PERSON
Audiovisual equipment rental $75
Program material and marketing would cost about $550. The association charged $130 for each participants last year and would like to use the same price this year.
a.Prepare a break-even chart for the conference and determine the break-even attendance level.
b. Suppose the association wanted to encourage student participation by charging a rate that would cover only the cost directly caused by their attendance. What price would you charge?
c. Prepare a budget for the event if you expect 110 people to attend (just show if there would be a surplus or deficit with 110 people attending).
Homework Answers
| Thursday afternoon Conference facilities rental | 425 |
| Coffee-break services | 10 PER PERSON |
| Audiovisual equipment rental | 55 |
| Evening reception | 25 PER PERSON |
| Friday Conference facilities rental | 750 |
| Coffee-break services, morning and afternooon | 15 PER PERSON |
| Continental Breakfast | 15/PERSON |
| Luncheon | 20 PER PERSON |
| Audiovisual equipment rental | 150 |
| Saturday Afternoon Conference facilities rental | 375 |
| Continental Breakfast | 15 PER PERSON |
| Coffee-break services | 10 PER PERSON |
| Audiovisual equipment rental | 75 |
Total Rental Cost = 425+55+750+150+375+75 = $ 1830
Total fixed cost = Rental cost + Program material and marketing cost = 1830 + 550 = $ 2380
Variable cost per person = 10+25+15+15+20+15+10 = $ 110 per person
Profit = Attendance * (Fee per participant - Variable cost per person) - Fixed cost
a)
Break-even chart is as follows:
FORMULA: B2 =A2*(130-110)-2380 copy to B2:B20
Break-even attendance level = Fixed cost / (participant fee - variable cost) = 2380 / (130 - 110) = 119
b) That price would be equal to the variable cost per person = $ 110
c) With 110 people attending,
Total fee collection = 110*130 = $ 14,300
Total cost of the program = 2380 + 110*110 = $ 14,480
Total cost is greater than collection. Therefore, there will be a deficit.
Deficit = 14480 - 14300 = $ 180
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