Budgeting Assignment: The Catalina Wine Mixer

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Budgeting Assignment: The Catalina Wine Mixer

Assignment Brief Congratulations! You have been hired to produce the 2019 Catalina Wine Mixer. The client is a helicopter sales and leasing company. They are doing a fundraiser for their charity partner benefiting emergency first responders that use their equipment. Their fundraising goal is $20,000. The first thing your client needs to approve is the budget.

You will be responsible for creating a budget for the program. Be sure to include ALL expenses and revenue expected. Revisit the lecture slides to be sure you include every cost category that would apply to this type of event. There will be some on the list you do not need, so don’t feel like you have to create unneeded expenses.

Here are the general details:

Catalina Wine Mixer Dates & Time: Saturday, March 30, 2019; timing is flexible depending on your activities

Attendees: create a breakeven analysis to determine how many tickets you need to sell at what price to cover your expenses and generate at least $20,000 in revenue

Venue: find a beautiful outdoor venue with great views and obtain real and accurate pricing

Catering: create a higher end menu for both food and beverage that you think is appropriate

Sponsors: pursue this if you wish. Don’t forget to include expenses for activation.

Activities: get creative! Include what you think would entertain your guests and help sell helicopters. Be sure to include all expenses.

Points Breakdown: [10 pts] Budget Document – This document should cover all details and cost categories listed above and use formulas to calculate costs. Points will be deducted for formula errors or obvious missing elements of this event plan. Example: If you choose an outdoor venue for your event, but don’t include expenses for power or bathrooms, you will lose points. Use the textbook to double check that your budget includes all obvious expenses.

Your submission must be created in Microsoft Excel using the following template attached

DO NOT use google sheets or Word for the budget portion of the assignment. Do not submit a .pdf. I need to be able to check out your formulas. You can access Microsoft Excel in the ASU computer labs if you don’t have it on your personal devices.

In a separate Word document answer the following questions…

[3pts] Break-Even Analysis – Describe how you decided on the established ticket price. What special activities or details did you include that may have driven up the ticket price?

[3pts] Opportunity Costs – Describe one example of opportunity costs for your program. Why did you make the choice to include one element over another?

[2pts] Financial Procedures – Describe one financial procedure and how you plan to implement that procedure for managing this particular special event.

[2pts] Fixed/Variable Costs – Give examples of one fixed cost and one variable cost associated with your event.

Rubric

Budget Assignment Rubric

Budget Assignment Rubric

Criteria

Ratings

Pts

This criterion is linked to a Learning OutcomeBudget Doc & Formulas

10.0 pts

Full Marks

0.0 pts

No Marks

10.0 pts

This criterion is linked to a Learning OutcomeBreak Even

ticket price explaination

5.0 pts

Full Marks

0.0 pts

No Marks

5.0 pts

This criterion is linked to a Learning OutcomeOpportunity Costs

what did you give up in order to meet your goals/objectives

4.0 pts

Full Marks

0.0 pts

No Marks

4.0 pts

This criterion is linked to a Learning OutcomeFinancial Procedures

Ex: cash handling, silent auction management, tickets, wristbands, receipts, vouchers, etc.

4.0 pts

Full Marks

0.0 pts

No Marks

4.0 pts

This criterion is linked to a Learning OutcomeFixed vs Variable Costs

one example of each

2.0 pts

Full Marks

0.0 pts

No Marks

2.0 pts

Total Points: 25.0