Procrastinators Anonymous (PA) is hosting their annual convention this coming ye

Question

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)

Explanation / Answer

Answer 1

Answer 2

Particulars Per attendee 500 attendee 750 attendee Variable Cost Cost of Meal 12 6000 9000 Favors per attendee 2 1000 1500 Total Variable Costs (A) 14 7000 10500 Fixed Cost Rental of Banquet 2500 2500 Entertainment for Banquet 1200 1200 Decorations 400 400 Printing Costs 500 500 Total Fixed Costs (B) 4600 4600 Total Costs (A+B) 11600 15100 No of attendee 500 750 Ticket Cost per attendee 23.00 20.00

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