6. The local non profit youth symphony is planning a concert fundraiser. The organization estimates that 550 tickets can be sold for $16 per person. The fixed costs are $720. The local chamber of commerce office will process ticket orders for a fee of $4 per ticket, to relieve the youth symphony of this responsibility. (1) How many tickets does your organization have to sell to break even? (2) How many tickets does your organization have to sell to earn a profit of $4,320? (3) How much must your organization have in sales dollars to break even (rounded to the nearest cent)? (4) How much must your organization have in sales dollars to earn a profit of $4,320 (rounded to the nearest cent)? (5) What is the organization's margin of safety in PERCENTAGE and in sales dollars?

6. The local non profit youth symphony is planning a concert fundraiser. The organization estimates that 550 tickets can be sold for $16 per person. The fixed costs are $720. The local chamber of commerce office will process ticket orders for a fee of $4 per ticket, to relieve the youth symphony of this responsibility. (1) How many tickets does your organization have to sell to break even? (2) How many tickets does your organization have to sell to earn a profit of $4,320? (3) How much must your organization have in sales dollars to break even (rounded to the nearest cent)? (4) How much must your organization have in sales dollars to earn a profit of $4,320 (rounded to the nearest cent)? (5) What is the organization's margin of safety in PERCENTAGE and in sales dollars?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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