Micromedia offers computer training seminars on a variety of topics. In the seminars each student work at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is $700 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $11000. Micromedia rents computers for its seminars at a cost of $65 per computer per day.         Compute the breakeven point.

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.