The Public Budgeting and Finance Association is planning its annual conference. The conference hotel has quoted...

 

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The Public Budgeting and Finance Association is planning its annual conference. The conference hotel has quoted the following prices for services: Thursday afternoon Friday Saturday morning Conference facilities rental: $425 Coffee-break service: $10 per person Audiovisual equipment rental: $55 Evening reception: $25 per person Conference facilities rental: $750 Coffee-break service, morning and afternoon. $15 per person Continental breakfast: $15 per person Luncheon: $20 per person Audiovisual equipment rental: $150 Conference facilities rental: $375 Continental breakfast: $15 per person Coffee-break service: $10 per person Audiovisual rental: $75 Program materials and marketing would cost about $550. The association charged $130 for each participant last year and would like to use the same price this year. a. Prepare a break-even chart for the conference and determine the break-even attendance level. b. Suppose the association wanted to encourage student participation by charg- ing a rate that would cover only the costs directly caused by their attendance. What price would you charge? c. Prepare a budget for the event if you expect 110 people to attend. (for "a", you do not need to prepare a break- even chart, just calculate the break-even attendance level; for "c", just calculate the surplus or deficit with 110 people attending The Public Budgeting and Finance Association is planning its annual conference. The conference hotel has quoted the following prices for services: Thursday afternoon Friday Saturday morning Conference facilities rental: $425 Coffee-break service: $10 per person Audiovisual equipment rental: $55 Evening reception: $25 per person Conference facilities rental: $750 Coffee-break service, morning and afternoon. $15 per person Continental breakfast: $15 per person Luncheon: $20 per person Audiovisual equipment rental: $150 Conference facilities rental: $375 Continental breakfast: $15 per person Coffee-break service: $10 per person Audiovisual rental: $75 Program materials and marketing would cost about $550. The association charged $130 for each participant last year and would like to use the same price this year. a. Prepare a break-even chart for the conference and determine the break-even attendance level. b. Suppose the association wanted to encourage student participation by charg- ing a rate that would cover only the costs directly caused by their attendance. What price would you charge? c. Prepare a budget for the event if you expect 110 people to attend. (for "a", you do not need to prepare a break- even chart, just calculate the break-even attendance level; for "c", just calculate the surplus or deficit with 110 people attending

Answer rating: 100% (QA)

a To determine the breakeven attendance level we need to calculate the total cost and the total revenue The breakeven point is reached when the total ... View the full answer