Riffa Football Club is planning to organize a football tournament to raise charity funds. The estimated...

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Riffa Football Club is planning to organize a football tournament to raise charity funds. The estimated costs per match Amount paid to Players, Coaches and Referees BHD 1,400; Ground Rent BHD 250; the Cost of footballs BHD 100. The organizers would like to give a gift and soft drink worth BHD 2.300 to each ticket holder. To promote ticket sales, it was agreed to pay a Sales commission for each ticket BHD 0.500. The club has outsourced and agreed to pay for advertising, ground support, maintenance, etc BHD 4,500 for the tournament. It also made a budget for Shields, prizes, medals, certificates, and a prize distribution ceremony at the end of the tournament BHD 3,250. The club is estimating an occupancy rate of 70% of the 320 seats available at each of its planned 50 matches in the tournament. REQUIRED: You are the Assistant Manager of the Riffa Football Club, and the club management has consulted for your advice on the following: a) Prepare a detailed CVP analysis of the entire tournament to raise a total fund of BHD 14,000. Briefly discuss your analysis, which should include how many tickets are to be sold. What is the price of each ticket? And find the margin of safety Ratio. (12 marks) b)The club is planning to organize one more tournament in the next season (in two months). It is estimated to conduct only 30 matches and the expected occupancy rate will be 80%. There is no change in the cost information. You are requested to make a decision on what the ticket price should be, to maintain the same margin of safety ratio that you have calculated for the current tournament and justify your final decision. (8 marks) Riffa Football Club is planning to organize a football tournament to raise charity funds. The estimated costs per match Amount paid to Players, Coaches and Referees BHD 1,400; Ground Rent BHD 250; the Cost of footballs BHD 100. The organizers would like to give a gift and soft drink worth BHD 2.300 to each ticket holder. To promote ticket sales, it was agreed to pay a Sales commission for each ticket BHD 0.500. The club has outsourced and agreed to pay for advertising, ground support, maintenance, etc BHD 4,500 for the tournament. It also made a budget for Shields, prizes, medals, certificates, and a prize distribution ceremony at the end of the tournament BHD 3,250. The club is estimating an occupancy rate of 70% of the 320 seats available at each of its planned 50 matches in the tournament. REQUIRED: You are the Assistant Manager of the Riffa Football Club, and the club management has consulted for your advice on the following: a) Prepare a detailed CVP analysis of the entire tournament to raise a total fund of BHD 14,000. Briefly discuss your analysis, which should include how many tickets are to be sold. What is the price of each ticket? And find the margin of safety Ratio. (12 marks) b)The club is planning to organize one more tournament in the next season (in two months). It is estimated to conduct only 30 matches and the expected occupancy rate will be 80%. There is no change in the cost information. You are requested to make a decision on what the ticket price should be, to maintain the same margin of safety ratio that you have calculated for the current tournament and justify your final decision. (8 marks)