Budgeting 2
21
RST 410 - Administration of Leisure Services Budgeting assignments information sheet Expenses Personnel Services ### Director $42,000.00 Director of Marketing $32,000.00 Office Manager $25,000.00 Part-time Employees $20,800.00 Contractual Services $43,400.00 Marketing & Advertising $14,400.00 Media $5,000.00 Office Lease $16,800.00 Electric $3,600.00 Phone $3,600.00 Supplies $2,400.00 Materials and Supplies $2,400.00 Contingencies $50,000.00 Short-term Financial Needs $50,000.00 Totals ### Total costs Year ### Month $17,966.67 Day $590.68 Hour (8,766 hours/year) $24.60 Working Hour (2,087 working hours/year) $103.31 Conference variables Number of days required to prepare the conference 20 Number of working hours required to prepare the conferenc 160 Number of days conference is held 3 Number of working hours during the conference 72
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Transcript of Budgeting 2
RST 410 - Administration of Leisure ServicesBudgeting assignments information sheet
ExpensesPersonnel Services ###
Director $42,000.00Director of Marketing $32,000.00
Office Manager $25,000.00Part-time Employees $20,800.00
Contractual Services $43,400.00Marketing & Advertising $14,400.00
Media $5,000.00Office Lease $16,800.00
Electric $3,600.00Phone $3,600.00
Supplies $2,400.00Materials and Supplies $2,400.00
Contingencies $50,000.00Short-term Financial Needs $50,000.00
Totals ###
Total costsYear ###
Month $17,966.67Day $590.68
Hour (8,766 hours/year) $24.60Working Hour (2,087 working hours/year) $103.31
Conference variablesNumber of days required to prepare the conference 20Number of working hours required to prepare the conference 160Number of days conference is held 3Number of working hours during the conference 72
Total number of working hours 232Number of attendees 250
0.33 Expenses Fixed costs
Personnel Services $119,800.00 $99,000.00
Director $42,000.00 $42,000.00
Director of Marketing $32,000.00 $32,000.00
Office Manager $25,000.00 $25,000.00
Part-time Employees $20,800.00 $0.00
Contractual Services $43,400.00 $40,880.00
Marketing & Advertising $14,400.00 $14,400.00
Media $5,000.00 $5,000.00
Office Lease $16,800.00 $16,800.00
Electric $3,600.00 $2,520.00
Phone $3,600.00 $2,160.00
Supplies $2,400.00 $0.00
Materials and Supplies $2,400.00 $0.00
Contingencies $50,000.00 $50,000.00
Short-term Financial Needs $50,000.00 $50,000.00
Totals $215,600.00 $189,880.00
Total costs per month $17,966.67 $15,823.33
Total costs per day $590.68 $520.22
Total costs per hour $24.60 $21.66
Total costs per working hour $103.31 $90.98
Variable costs
$20,800.00
$0.00 Conference variables
$0.00 Number of days required to prepare the conference
$0.00 Number of working hours required to prepare the conference
$20,800.00 Number of days conference is held
Number of working hours during the conference
$2,520.00 Total number of working hours
$0.00 Number of attendees
$0.00
$0.00
$1,080.00 Total cost
$1,440.00 Cost per attendee
$2,400.00 Total Profit Expected
$2,400.00
$0.00 PRICE PER ATTENDEE
$0.00
$25,720.00
$2,143.33
$70.47
$2.93
$12.32
20
160
3
72
232
150
$23,967.03
$159.78
$75,000.00
$659.78
Expenses Fixed costs
Personnel Services 119,800.00 $99,000.00
Director 42,000.00 $42,000.00
Director of Marketing 32,000.00 $32,000.00
Office Manager 25,000.00 $25,000.00
Part-time Employees 20,800.00 $0.00
Contractual Services 43,400.00 $40,880.00
Marketing & Advertising 14,400.00 $14,400.00
Media 5,000.00 $5,000.00
Office Lease 16,800.00 $16,800.00
Electric 3,600.00 $2,520.00
Phone 3,600.00 $2,160.00
Supplies 2,400.00 $0.00
Materials and Supplies 2,400.00 $0.00
Contingencies 50,000.00 $50,000.00
Short-term Financial Needs 50,000.00 $50,000.00
Totals 215,600.00 $189,880.00
5% Contingency 10,780.00 $9,494.00
10% Contingency 21,560.00
Total costs per month 17,966.67 $15,823.33
5% Contingency 898.33 $791.17
10% Contingency 1,796.67 $1,582.33
Total costs per day 590.68 $520.22
5% Contingency 29.53 $26.01
10% Contingency 59.07 $52.02
Total costs per hour 24.60 $21.66
5% Contingency 1.23 $1.08
10% Contingency 2.46 $2.17
Total costs per working hour 103.31 $90.98
5% Contingency 5.17 $4.55
10% Contingency 10.33 $9.10
15% contingency 15.50 $13.65
Variable costs
$20,800.00
$0.00
$0.00
$0.00
$20,800.00
$2,520.00
$0.00
$0.00
$0.00
$1,080.00
$1,440.00
$2,400.00
$2,400.00
$0.00
$0.00
$25,720.00
$1,286.00
$2,143.33
$107.17
$214.33
$70.47
$3.52
$7.05
$2.93
$0.15
$0.29
$12.32
$0.62
$1.23
$1.85
Conference variables
Number of days required to prepare the conference 20
Number of working hours required to prepare the conference 160
Number of days conference is held 3
Number of working hours during the conference 72
Total number of working hours 232
Number of attendees 250
Total cost $23,967.03
Total cost w/ 5% contingency $25,165.39
Total cost w/ 10% contingency $26,363.83
Cost per attendee $95.87
Cost per attendee w/ 5% contingency $100.66
Cost per attendee w/ 10% contingency $105.46
Cost per attendee w/ 15% contingency $118.80
Total Profit Expected $50,000.00
PRICE PER ATTENDEE $295.87
PRICE PER ATTENDEE W/ 5% CONTINGENCY $300.66
PRICE PER ATTENDEE W/ 10% CONTINGENCY $305.46
PRICE PER ATTENDEE W/ 15% CONTINGENCY $200.48
Expenses
Personnel Services $119,800.00
Director $42,000.00
Director of Marketing $32,000.00
Office Manager $25,000.00
Part-time Employees $20,800.00
Contractual Services $43,400.00
Marketing & Advertising $14,400.00
Media $5,000.00
Office Lease $16,800.00
Electric $3,600.00
Phone $3,600.00
Supplies $2,400.00
Materials and Supplies $2,400.00
Contingencies $50,000.00
Short-term Financial Needs $50,000.00
Totals $215,600.00
Total costs per working hour (2,087 working hours/year) $103.31
10% contingency $10.33
15% contingency $15.50
20% contingency $20.66
Conference variables
Number of days required to prepare the conference 20
Number of working hours required to prepare the conference 160
Number of days conference is held 3
Number of working hours during the conference 72
Total number of working hours 232
Number of attendees (scenario 1) 250
Number of attendees (scenario 2) 150
Number of attendees (scenario 3) 500
Total cost $23,967.03
Total cost w/ 10% contingency $26,363.74
Total cost w/ 15% contingency $27,562.09
Total cost w/ 20% contingency $28,760.44
Cost per attendee (250) $95.87
Cost per attendeed w/ 10% contingency (250) $105.45
Cost per attendee w/15% contingency (250) $110.25
Cost per attendee w/20% contingency (250) $115.04
Cost per attendee (150) $159.78
Cost per attendeed w/ 10% contingency (150) $175.76
Cost per attendee w/15% contingency (150) $183.75
Cost per attendee w/20% contingency (150) $191.74
Cost per attendee (500) $47.93
Cost per attendeed w/ 10% contingency (500) $52.73
Cost per attendee w/15% contingency (500) $55.12
Cost per attendee w/20% contingency (500) $57.52
Total Profit Expected (250) $50,000.00
Total Profit Expected w/ 10% contingency (250) $47,603.30
Profit expected per attendee (250) $200.00
Total Profit Expected (150)
Profit expected per attendee (150) $0.00
Total Profit Expected (500) $100,000.00
Profit expected per attendee (500) $200.00
PRICE PER ATTENDEE (250) $295.87
price per attendee w/ 10% contingency (250) $305.45
price per attendee w/ 15% contingency (250) $310.25
price per attendee w/ 20% contingency (250) $315.04
PRICE PER ATTENDEE (150) $159.78
price per attendee w/ 10% contingency (150) $175.76
price per attendee w/ 15% contingency (150) $374.16
price per attendee w/ 20% contingency (150) $382.15
PRICE PER ATTENDEE (500) $247.93
price per attendee w/ 10% contingency (500) $252.73
price per attendee w/ 15% contingency (500) $255.12
price per attendee w/ 20% contingency (500) $257.22
Fixed costs Variable costs
$99,000.00 $20,800.00
$42,000.00 $0.00
$32,000.00 $0.00 $47,603.30 loss in profit
$25,000.00 $0.00
$0.00 $20,800.00
$40,880.00 $2,520.00 $185.45
$14,400.00 $0.00
$5,000.00 $0.00
$16,800.00 $0.00
$2,520.00 $1,080.00
$2,160.00 $1,440.00 561 people
$0.00 $2,400.00
$0.00 $2,400.00
$50,000.00 $0.00
$50,000.00 $0.00 P = (F + V) / N
P = (C*(F + V)+(F + V)) / N
$189,880.00 $25,720.00
PRICE = COST + PROFIT
$113.64
$118.80
$123.97
$257.22
How much does Happenings make (profit) or lose if the conference is planned for 250 people with 10% contingency and only 150 attend?
How much should Happenings charge per person if Happenings wanted the event to make $20,000 profit? (consider 10% contingency)How much should Happenings charge per person if Happenings wanted the event to make $20,000 profit? (consider 10% contingency).
Happenings is going to charge $150 for its one day conference workshop because of competitive pricing. How many people will need to attend for Happenings to make $75,000 on the program? (consider 15% contingency)
Imagine that the Board of Directors, rather than imposing a set amount of profit ($50,000), decides to impose a set number of attendees (500). How much should Happenings charge per person if it wants to make (profit) $100,000? (consider 20% contingency)
loss in profit
Total cost $27,562.09
Total profit $75,000.00
Total Price ###
price per attendee $150
people needed? 684
P = C + P; P/N = (C + P)/N
How much does Happenings make (profit) or lose if the conference is planned for 250 people with 10% contingency and only 150 attend?
$20,000.00 How much should Happenings charge per person if Happenings wanted the event to make $20,000 profit? (consider 10% contingency)How much should Happenings charge per person if Happenings wanted the event to make $20,000 profit? (consider 10% contingency).
Happenings is going to charge $150 for its one day conference workshop because of competitive pricing. How many people will need to attend for Happenings to make $75,000 on the program? (consider 15% contingency)
Imagine that the Board of Directors, rather than imposing a set amount of profit ($50,000), decides to impose a set number of attendees (500). How much should Happenings charge per person if it wants to make (profit) $100,000? (consider 20%
total cost $100,000.00working hours per day 100total working hours 300cost per working hour $47.92total cost 3 day conference $14,374.70total cost 3 day conference w/ 10% contingency $15,812.17
total cost w/10% contingency $15,812.17total profit $25,000.00total price $40,812.17price per person $163.25number of attendees 250
