Question 1056886: . Millbridge Animal Protective Services (MAPS) is planning its spring awards dinner as a fundraising event. It is planning to charge each attendee $150. Feast Hall, the site of the dinner, will charge MAPS $5,000 for the use of its posh VIP Room and $50 per plate for food. The VIP Room has a capacity of 180 people. Rocky Mount and the Tar Heels (one band) will provide the entertainment for their standard performance fee of $1,000 per night.
1. How many people would need to attend in order for MAPS to break even?
2. If MAPS sells 100 tickets for the dinner, what is the average cost to MAPS for each person with a ticket?
---I believe that the formula that you would use for the first question is BEQ = FC/CM my answer was BEQ = 200
I'm in a Human Service Class and never taking algebra before and I'm lost in some of the that I need to use.
I would thank you very much if you was able to help me in any way.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! MAPS is planning to charge each attendee $150.
Feast Hall, the site of the dinner, will charge MAPS $5,000 for the use of its posh VIP Room and $50 per plate for food.
The VIP Room has a capacity of 180 people.
Rocky Mount and the Tar Heels (one band) will provide the entertainment for their standard performance fee of $1,000 per night.
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Let "x" be the number of attendees:::
Cost:: 5000+50x + 1000
Revenue:: 150x
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1. How many people would need to attend in order for MAPS to break even?
Break even means Cost = Revenue
5000 + 50x + 1000 = 150x
100x = 6000
x = 60 (# of attendees if MAPS is to break even)
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2. If MAPS sells 100 tickets for the dinner, what is the average cost to MAPS for each person with a ticket?
Cost = 50x + 6000 = 50*100+6000 = 11000
Average cost per person = 11000/100 = $110
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Cheers,
Stan H.
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