Micromedia offers computer training seminars on variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micormedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is $300 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $4800. Micromedia rents computers for its seminars at a cost of $30 per computer per day.
a. Develop a model for the total cost to put on the seminar. Let x represent the number of
students who enroll in the seminar.
b. Develop a model for the total profit if x students enroll in the seminar.
c. Micromedia has forecasted an enrollment of 30 students for the seminar. How much
profit will be earned if their forecast is accurate?
d. Compute the breakeven point.

IN the given case, the multimedia develop the model of cost as 4,800+60x, its total cost model is 240x-4,800, they earned a profit of $2,400 and the breakeven point is 20.

What is the breakeven point?

The break-even point is defined as the point in which the total cost and the total revenue are equivalent.

This means that there is no profit, no loss condition for the small business.

(a). Computation of the total cost model:

The total cost model is made with the help of The cost for the conference room, instructor compensation, lab assistants, and promotion and computer seminars.

Therefore, the total cost model is:

According to the given information,

The cost for the conference room, instructor compensation, lab assistants, and promotion is $4800.

Length of seminar = 2 days

Computer rental = $30 per day

Number of students = X

Therefore, the total cost model is:

[tex]\text{Total Cost}=\$4,800 +30 \times 2 \times x \\\text{Total Cost}=\$4,800+60x[/tex]

(b). Computation of total profit model:

According to the given information,

Projected fee= $300/- Student

Therefore, total profit model is:

[tex]\text{Total Profit} = \text{Revenue-Costs Incurred}\\ \text{Total Profit} =300x-(\$4,800+60x)\\\text{Total Profit} =240x-\$4,800[/tex]

(c). Computation of profit earning:

In the given case, 30 students enrolled for the seminar,

[tex]\text{Profit}=240 \times 30-\$4,800\\\text{Profit}=\$7,200-\$4,800\\\text{Profit}=\$2,400[/tex]

(d). Determination of breakeven point:

According to the given information,

Let,

[tex]240x-\$4,800=0[/tex]

Then, the breakeven point is:

[tex]x=\dfrac{\$4,800}{240}\\\\x =20[/tex]

The profit will be 0 at the breakeven point of 20.

Learn more about the breakeven point, refer to:

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