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County Museum is planning a fund-raising dinner. The initial plan was to charge $75/ticket. Catering costs would be $45/plate. Rent of the facility would be $2,500 for the event, and all labor (not including caterer) would be volunteer. A string quartet would provide dinner music for $1,200. It is expected that 240 persons would attend this dinner.

A new plan has been put forward for a more deluxe event, with tickets costing $120. Catering for the more elaborate dinner would run $70/plate. Bigger "name" entertainment would be hired instead of the strings, costing $5,000. Paid staff would be hired for $900 in order to provide better service. How many tickets must be sold for the more deluxe event in order for it to yield the same profit as the original plan?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M952257

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