FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

Question
6. The local non-profit symphony is planninga concert fundraiser. The organization estimates that 550 tickets can be sold for $16 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 $4320?        
3. How much must your organization have in sales dollatrs to break even? (rounded to the nearest cent)      
4. How much must your organization have in salesdollars to earn a profit of $4320? ( rounded to the nearest cent)?    
5. What is the organization's margin of safety in Percentage and in sales dollars?        
Expert Solution
Check Mark
Still need help?
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

the question number 4 and number 5 was not answered?

The local non-profit symphony is planninga concert fundraiser. The organization estimates that 550 tickets can be sold for $16 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 $4320?        
3. How much must your organization have in sales dollatrs to break even? (rounded to the nearest cent)      
4. How much must your organization have in salesdollars to earn a profit of $4320? ( rounded to the nearest cent)?    
5. What is the organization's margin of safety in Percentage and in sales dollars?
Chrome File Edit View History Bookmarks Profiles Tab Window
Help
Assignments > Mid Semester Exams
Mid Semester Exams
1
1
Hide Assignment Information
1
1
Instructions
1
1
6. The local non-profit youth symphony is planning a concert fundraiser. The
1
organization estimates that 550 tickets can be sold for $16 per person. The
1
fixed costs are $720. The local chamber of commerce office will process ticket
1
2
orders for a fee of $4 per ticket, to relieve the youth symphony of this
2
responsibility.
2
(1) How many tickets does your organization have to sell to break even?
2
2
(2) How many tickets does your organization have to sell to earn a profit of
$4,320?
2
2
(3) How much must your organization have in sales dollars to break even
(rounded to the nearest cent)?
2
2
(4) How much must your organization have in sales dollars to earn a profit
3
of $4,320 (rounded to the nearest cent)?
3
3
(5) What is the organization's margin of safety in PERCENTAGE and in sales
dollars?
3
3
3
Submit
Cancel
w w w
3
Ⓡ
☆
→
0
ດາ
Sun Jun 5 2:51:47 PM
AN
ENTS
ast west
CHOOL
JECT
e claim
ement
tled folder
Acctg.
expand button
Transcribed Image Text:Chrome File Edit View History Bookmarks Profiles Tab Window Help Assignments > Mid Semester Exams Mid Semester Exams 1 1 Hide Assignment Information 1 1 Instructions 1 1 6. The local non-profit youth symphony is planning a concert fundraiser. The 1 organization estimates that 550 tickets can be sold for $16 per person. The 1 fixed costs are $720. The local chamber of commerce office will process ticket 1 2 orders for a fee of $4 per ticket, to relieve the youth symphony of this 2 responsibility. 2 (1) How many tickets does your organization have to sell to break even? 2 2 (2) How many tickets does your organization have to sell to earn a profit of $4,320? 2 2 (3) How much must your organization have in sales dollars to break even (rounded to the nearest cent)? 2 2 (4) How much must your organization have in sales dollars to earn a profit 3 of $4,320 (rounded to the nearest cent)? 3 3 (5) What is the organization's margin of safety in PERCENTAGE and in sales dollars? 3 3 3 Submit Cancel w w w 3 Ⓡ ☆ → 0 ດາ Sun Jun 5 2:51:47 PM AN ENTS ast west CHOOL JECT e claim ement tled folder Acctg.
Solution
Bartleby Expert
by Bartleby Expert
SEE SOLUTION
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

the question number 4 and number 5 was not answered?

The local non-profit symphony is planninga concert fundraiser. The organization estimates that 550 tickets can be sold for $16 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 $4320?        
3. How much must your organization have in sales dollatrs to break even? (rounded to the nearest cent)      
4. How much must your organization have in salesdollars to earn a profit of $4320? ( rounded to the nearest cent)?    
5. What is the organization's margin of safety in Percentage and in sales dollars?
Chrome File Edit View History Bookmarks Profiles Tab Window
Help
Assignments > Mid Semester Exams
Mid Semester Exams
1
1
Hide Assignment Information
1
1
Instructions
1
1
6. The local non-profit youth symphony is planning a concert fundraiser. The
1
organization estimates that 550 tickets can be sold for $16 per person. The
1
fixed costs are $720. The local chamber of commerce office will process ticket
1
2
orders for a fee of $4 per ticket, to relieve the youth symphony of this
2
responsibility.
2
(1) How many tickets does your organization have to sell to break even?
2
2
(2) How many tickets does your organization have to sell to earn a profit of
$4,320?
2
2
(3) How much must your organization have in sales dollars to break even
(rounded to the nearest cent)?
2
2
(4) How much must your organization have in sales dollars to earn a profit
3
of $4,320 (rounded to the nearest cent)?
3
3
(5) What is the organization's margin of safety in PERCENTAGE and in sales
dollars?
3
3
3
Submit
Cancel
w w w
3
Ⓡ
☆
→
0
ດາ
Sun Jun 5 2:51:47 PM
AN
ENTS
ast west
CHOOL
JECT
e claim
ement
tled folder
Acctg.
expand button
Transcribed Image Text:Chrome File Edit View History Bookmarks Profiles Tab Window Help Assignments > Mid Semester Exams Mid Semester Exams 1 1 Hide Assignment Information 1 1 Instructions 1 1 6. The local non-profit youth symphony is planning a concert fundraiser. The 1 organization estimates that 550 tickets can be sold for $16 per person. The 1 fixed costs are $720. The local chamber of commerce office will process ticket 1 2 orders for a fee of $4 per ticket, to relieve the youth symphony of this 2 responsibility. 2 (1) How many tickets does your organization have to sell to break even? 2 2 (2) How many tickets does your organization have to sell to earn a profit of $4,320? 2 2 (3) How much must your organization have in sales dollars to break even (rounded to the nearest cent)? 2 2 (4) How much must your organization have in sales dollars to earn a profit 3 of $4,320 (rounded to the nearest cent)? 3 3 (5) What is the organization's margin of safety in PERCENTAGE and in sales dollars? 3 3 3 Submit Cancel w w w 3 Ⓡ ☆ → 0 ດາ Sun Jun 5 2:51:47 PM AN ENTS ast west CHOOL JECT e claim ement tled folder Acctg.
Solution
Bartleby Expert
by Bartleby Expert
SEE SOLUTION
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education