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Question - 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) $15
Favors and program (per person) $7
Band $2,000
Rental of ballroom $1,250
Professional entertainment during intermission $2,000
Tickets and advertising $600
The committee members would like to charge $61 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).
2. Assume that last year only 250 persons attended the dinner-dance. If the same number attend this year, what price per ticket must be charged in order to break even? (Round your answer to 2 decimal places.)
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