Answer the Following Question(s)using the Information Below

question 67

Multiple Choice

Answer the following question(s) using the information below.Southwestern College is planning to hold a fund raising banquet at one of the local country clubs.It has two options for the banquet:
Southwestern College has budgeted $1,800 for administrative and marketing expenses.It plans to hire a band which will cost another $800.Tickets are expected to be $30 per person.Local business supporters will donate any other items required for the event.
-What is the operating income for each option if 600 people attend?

• A)$14,400 and $12,400 respectively
• B)$9,800 and $10,200 respectively
• C)$8,000 and $8,400 respectively
• D)$7,900 and $8,000 respectively
• E)$7,200 and $7,600 respectively

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Definitions:

Second Bank

Refers to the Second Bank of the United States, a federal institution that served as the country's central bank until its charter expired in 1836.

Profit-Making

The primary goal of most businesses and enterprises, which involves generating revenue in excess of its expenses to gain financial profit.

William Henry Harrison

The ninth President of the United States, whose term in 1841 was famously brief, lasting just one month before he died of pneumonia.

American System

An economic plan that emphasized high tariffs, a national bank, and federal subsidies for roads, canals, and other infrastructure projects to foster national growth and unity in the early 19th century.