1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alex_Xolod [135]
3 years ago
7

The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected

costs for the event: Dinner (per person) $14 Favors and program (per person) $7 Band $1,800 Rental of ballroom $1,100 Professional entertainment during intermission $2,000 Tickets and advertising $700 The committee members would like to charge $49 per person for the evening’s activities. Required: 1. Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend).
Business
1 answer:
Bas_tet [7]3 years ago
5 0

Answer:

$200 persons

Explanation:

Total variable cost per person:

= Dinner (per person) + Favors and program (per person)

= $14 + $7

= $21

Total fixed cost:

= Band + Rental of ballroom + professional entertainment during intermission + Tickets and advertising

= $1,800 + $1,100 + $2,000 + $700

= $5,600

Price = $49

Contribution = Price - Total variable cost per person

                    = $49 - $21

                    = $28

1. Break-even point for the dinner-dance:

= Total fixed cost ÷ Contribution margin per unit

= $5,600 ÷ $28

= $200 persons

You might be interested in
In a economy, the government owns the means of production.
Daniel [21]

Answer:

(a) Command

Explanation:

A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.

This ultimately implies that, in a command economy, the government owns the means of production.

Societies that operate a command economy generally practices communism.

Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.

It ultimately aims to ensure each person contributes and receives according to their abilities and needs.

Vietnam, China and Cuba are examples of communist countries that operate a command economy.

In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.

5 0
2 years ago
Peggy is in the business of factoring accounts receivable. Last year, she purchased a $30,000 account receivable for $25,000. Th
N76 [4]

Answer:

e. None of these.

3 0
3 years ago
A _______ lease covers the landlord's expected increases in expenses by increasing the rent on an annual basis over the life of
Sveta_85 [38]

A step lease covers the landlord's expected increases in expenses by increasing the rent on an annual basis over the life of the agreement.

4 0
3 years ago
Read 2 more answers
Kamath-Meier Corporation's CFO uses this equation, which was developed by regressing inventories on sales over the past 5 years,
charle [14.2K]

Answer:

$71.5

Explanation:

Inventory forecast is a way of predicting the volume of inventory required to fulfill future orders based on the existing production capacity and other plans relating to production

equation for forecasting inventory = $22 + 0.125 sales

Current sales = $300 million

Annual sales growth rate =32%

sales for next year = 300 + (300*32%)

300 + 96= $396 million

Applying the equation

Inventory = $22 + (0.125*396)

$22 + $49.5 = $71.5 million

7 0
3 years ago
Operations management is applicable: Question 4 options: A) mostly to the service sector. B) mostly to the manufacturing sector.
erica [24]

Answer and Explanation:

E) to all firms, whether manufacturing or service.

3 0
3 years ago
Other questions:
  • Lori had a great day at work and has a positive attitude. When she arrives home, she maintains this positive attitude and is in
    15·1 answer
  • zzy Division of Marine Boats Corporation had the following results last year​ (in thousands). Sales $ 4 comma 700 comma 000 Oper
    7·1 answer
  • Mark expects the value of currency X to appreciate in the near future. Hence, he delays the collection of payments from foreign
    15·1 answer
  • Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.
    6·1 answer
  • A European used car dealer built a multiple linear regression model to predict the resale price of a used car based on its condi
    15·1 answer
  • An investment in an available-for-sale security is transferred to trading because the company anticipates selling the stock in t
    11·1 answer
  • An organization's only sustainable competitive advantage lies in: Group of answer choices
    12·1 answer
  • When utilizing mbo, the manager and employee jointly set objectives for the employee, the manager develops action plans, the man
    9·1 answer
  • Which type of text takes a larger proportion of money from people who make more money?
    11·1 answer
  • In order for a lead to be considered a sales prospect, the lead must have a need for the salesperson's product.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!