Big Sports University is planning to hold a fundraising banquet at one of the local country...
Big Sports University is planning to hold a fundraising banquet
at one of the local country clubs. It has two options for the
banquet:
1. Foothills Country Club
a. Fixed rental cost of $600,
b. plus $15.00 per person for food.
2. Downhill Country Club
a. Fixed rental cost of $1,080.
b. It will have to hire a caterer who charges $12.00 per person for
food.
Big Sports has budgeted $900 for administrative and marketing
expenses. It plans to hire a band, which will cost another $400.
Tickets are expected to be $40 per person. Any other items required
for the event will be donated by its local business
supporters.
What is the breakeven point in tickets sold of option one?
|
70 tickets |
||
|
170 tickets |
||
|
76 tickets |
||
|
85 tickets |
||
|
80 tickets |
Homework Answers
Option 1 :
Total fixed cost = Fixed rental cost + Administrative and marketing expenses + Cost of hiring band = $600 + $900 + $400 = $1900
Variable cost per person = $15
Tickets selling price per person = $40
Break even point = Total fixed cost / ( Selling price per person - Variable cost per person ) = $1900 / ( $40 - $15 ) = 76 tickets
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