Parkway Travel Tours is organizing a five-day trip from Toronto to Branson, Missouri, a family town with all types of attractions and theatres. Although it is a small town (around 10,000 people), Branson attracts millions of visitors every year. Branson hosts more than 100 live shows in 52 state-of-the art theatres. For this particular five-day trip, it will cost the agency the following: Buss and driver Travel guide Advertising Meals per person/day Hotel rooms (night) Events/attractions Other fixed costs Miscellaneous variable costs Price per client $2,500/day $500/day $1,000 (brochure and newspapers) $5.00 (4 breakfasts) $20.00 (5 dinners) $60.00 (4 nights) $40.00 (per event for a total of 7 events) $1,000 $100 (per person) $1,700
Parkway Travel Tours is organizing a five-day trip from Toronto to Branson, Missouri, a family town with all types of attractions and theatres. Although it is a small town (around 10,000 people), Branson attracts millions of visitors every year. Branson hosts more than 100 live shows in 52 state-of-the art theatres. For this particular five-day trip, it will cost the agency the following: Buss and driver Travel guide Advertising Meals per person/day Hotel rooms (night) Events/attractions Other fixed costs Miscellaneous variable costs Price per client $2,500/day $500/day $1,000 (brochure and newspapers) $5.00 (4 breakfasts) $20.00 (5 dinners) $60.00 (4 nights) $40.00 (per event for a total of 7 events) $1,000 $100 (per person) $1,700
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
I need help with this question, thanks in ad
Transcribed Image Text:Parkway Travel Tours is organizing a five-day trip from Toronto to Branson, Missouri,
a family town with all types of attractions and theatres. Although it is a small town
(around 10,000 people), Branson attracts millions of visitors every year.
Branson hosts more than 100 live shows in 52 state-of-the art theatres. For this
particular five-day trip, it will cost the agency the following:
Buss and driver
Travel guide
Advertising
Meals per person/day
Hotel rooms (night)
Events/attractions
Other fixed costs
Miscellaneous variable costs
Price per client
$2,500/day
$500/day
$1,000 (brochure and newspapers)
$5.00 (4 breakfasts)
$20.00 (5 dinners)
$60.00 (4 nights)
$40.00 (per event for a total of 7 events)
$1,000
$100 (per person)
$1,700
3 Draw the break-even chart and calculate the break-even point, the cash break-even point, and the profit
break-even point, and explain how they can be applied in different organizations.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education