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Chi Omega Sorority is planning its annual Riverboat Extravaganza. The Extravaganza committee has assembled the following expected costs for the event: Dinner (per person) $ 7 Favors and programs (per person) 3 Orchestra 3,000 Tickets and advertising 1,400 Riverboat Rental 9,600 Floor show and strolling entertainers 2,000 The committee members want to charge $30 per person for the evening's activities. Required: 1. Compute the break-even point for the Extravaganza (in terms of the number of persons that must attend.) 2. Assume that only 250 person attended the Extravaganza last year. If the same number attend this year, what price per ticket must be charged in order to break even? 3. If Chi Omega want to make a profit of $6,000 and charge $30 per ticket, how many people must buy tickets? 4. Chi Omega decides to sell tickets for $35 each and the costs will remain the same as shown in the table above. If they believe they can sell 800 tickets, what will be their margin of safety in dollars and as a percent of sales?
What is a VAT? Give an example of VAT in other nations. What is the difference between centralized and decentralized government? What are the advantages of a federal system of government?
Attached is an Inventory cost test.
A not-for-profit organization receives a restricted gift. When, and in which type of fund, should it recognize the revenue? When, and in which type of fund, should it recognize the related expense? What is the reason for the apparent inconsistency..
1. From the information given, record closing entries. 2. If closing entries were not prepared at the end of the accounting period, what problems would result in the next accounting period?
Compute the rate variance, the efficiency variance, and the total direct labor cost variance for each of these two months. (Input all amounts as a positive value.
What assets qualify for interest capitalization? What assets do not qualify for interest capitalization?
Dirt Bike Co in Japan has a division that manufactures two-wheel motorcycles. Its budgeted sales for Model G in 2003 is 800,000 units. Dirt Bike's target ending inventory is 100,000 units, and its beginning inventory is 120,000 units.
Cannon Company is considering a capital project that will return $100,000 each year for five years. At the company's hurdle rate of 10%, the present value of the annuity is $379,100. If the return on investment in the first year is $37,910, what i..
You are required to choose one of the companies below and do some research into its background and activities. If you wish to choose your own company this should be approved by your lecturer. The report can be completed individually or in groups of t..
What would be Melissa's after-tax income from the part-time job, considering Social Security and Medicare tax (use 7.65%) as well as Federal income tax on the earnings of $5,000? (Round your intermediate computations and final answer to the neares..
Harris moves and Hoyt refunds $1,050 of the deposit and keeps the remainder to cover $750 which is spent for repairs to the office space and one week of unpaid rent that amounts to $600. How would this information be reflected on Hoyt's tax ret..
Journalize the entry to record the declaration of the dividend, cpaitalizing an amount equal to market value. Journalize the entry to record the issuance of the stock certificates.
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