Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 18 Aug 2017 My Price 9.00

America’s Idol

15.    LO.2 (Cost behavior) The next winner of America’s Idol will perform at your fraternity’s charity event for free at your school’s basketball arena (25,000-person capacity) on January 28, 2011. The school is charging your fraternity $37,500 for the facilities and

$10 for each ticket sold. The fraternity asks you, their only numbers-astute member, to determine how much to charge for each ticket. The group wants to make a profit of

$8 per ticket sold. You assume that 15,000 tickets will be sold.

a.     What is the total cost incurred by the fraternity if 15,000 tickets are sold?

b.    What price per ticket must be charged for the fraternity to earn its desired profit margin?

c.     Suppose that on the morning of January 28, 2011, a major snowstorm hits your area, bringing in 36 inches of snow and ice. Only 5,000 tickets are sold because most students were going to buy their tickets at the door. What is the total profit or loss to the fraternity?

d.    What assumptions did you make about your calculations that should have been conveyed to the fraternity?

e.     Suppose instead that fair weather prevails and, by show time, 20,000 concert tickets are sold. What is the total profit or loss to the fraternity?

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 11:08 PM My Price 9.00

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