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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

Conference facilities rental: $425

Coffee-break service: $10 per person

Audiovisual equipment rental: $55

Evening reception: $25 per person

Friday

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

Sat morning

Conference facilities rental: $375

Continental breakfast: $15 per person

Coffee-break service: $10 per person

Audiovisual equipment 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) Determine the break-even attendance level.

b) Suppose the association wanted to encourage student participation by charging 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.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92042461

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