The Art institute is planning its annual banquet. Every year 450 guests attend the banquet, paying...

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The Art institute is planning its annual banquet. Every year 450 guests attend the banquet, paying $120 per ticket. The cost of dinner is estimated at $18,200 ($9,000 in fixed costs and $9,200 in variable costs), and the cost of decoration, PR and invitations is estimated at $25,000 ($21,500 in fixed costs and $3,500 in variable costs). What is the contribution margin per guest? What is the total net income? show your work The Art institute is planning its annual banquet. Every year 450 guests attend the banquet, paying $120 per ticket. The cost of dinner is estimated at $18,200 ($9,000 in fixed costs and $9,200 in variable costs), and the cost of decoration, PR and invitations is estimated at $25,000 ($21,500 in fixed costs and $3,500 in variable costs). What is the contribution margin per guest? What is the total net income? show your work

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