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The Museum of Science is preparing for its annual appreciation dinner for contributing members. Last...

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Accounting

The Museum of Science is preparing for its annual appreciation dinner for contributing members. Last year, 550 members attended the dinner. Tickets for the dinner were $30 per
attendee. The profit report for last year's dinner follows.
(Click the icon to view the profit report.)
This year the dinner committee does not want to lose money on the dinner. To help achieve its goal, the committee analyzed last year's costs. Of the $16,900 cost of the dinner,
$7,000 were fixed costs and $9,900 were variable costs. Of the $3,000 cost of invitations and paperwork, $2,175 were fixed and $825 were variable.
Read the requirements.
Requirement 1. Prepare last year's profit report using the contribution margin format. (Use parentheses or a minus sign when entering losses.)
Data table
Ticket sales
Cost of dinner
Gross margin
Invitations and paperwork
$
16,500
help
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