Gross margin and contribution margin. The Museum of is preparing for its annual appreciation dinner for contributing members. Last​ year, members attended the dinner. Tickets for the dinner were per attendee. The profit report for last​ year's dinner follows.
Ticket sales $12,600
Cost of dinner 15,300
Gross margin (2,700)
Invitations and paperwork 2,500
Profit (loss) $(5,200)
This year the dinner committee does not want to lose money on the dinner. To help achieve its goal, the committee analyzed last year's costs. Of the $15,300 cost of the dinner, $9,000 were fixed costs and $6,300 were variable costs. Of the $2,500 cost of invitations and paperwork, $1,975 were fixed and $525 were -variable.
Required:
1. Prepare last year's profit report using the contribution margin format.
2. The committee is considering expanding this year's dinner invitation list to include volunteer members (in addition to contributing members). If the committee expands the dinner invitation list, it expects attendance to double. Calculate the effect this will have on the profitability of the dinner assuming fixed costs will be the same as last year.
Answers: 1
Business, 21.06.2019 20:50, nathand200127
Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases
Answers: 3
Business, 22.06.2019 04:30, skyvargasov9cad
Peyton taylor drew a map with scale 1 cm to 10 miles. on his map, the distance between silver city and golden canyon is 3.75 cm. what is the actual distance between silver city and golden canyon?
Answers: 3
Business, 23.06.2019 04:40, esmeraldavelez63
Why is job security of such importance to workers?
Answers: 1
Gross margin and contribution margin. The Museum of is preparing for its annual appreciation dinner...
History, 09.02.2021 22:20
History, 09.02.2021 22:20
Mathematics, 09.02.2021 22:20
English, 09.02.2021 22:20