Final answer:
To compute Gustin's profit per seminar in a spreadsheet model, you need to list all revenues and costs, then use formulas to calculate the total revenue, total expenses, and profit by subtracting the expenses from the revenue.
Step-by-step explanation:
Constructing a spreadsheet model to compute profit per seminar for a business such as Gustin's involves detailing all revenue and costs associated with running a seminar and subtracting the costs from the revenue to find the profit. Begin by entering the static values for costs such as venue hire, marketing, presenter fees, and materials, alongside projected revenue from ticket sales and any other income streams. Perform calculations by setting up formulas that multiply the number of participants by the ticket price for revenue, sum all costs for total expenses, and subtract total expenses from total revenue for profit.
For instance, if the static values are set as follows:
- Venue Hire: $500
- Marketing: $200
- Presenter Fees: $300
- Materials: $100
- Ticket Price: $150
- Number of Participants: 20
The formulas would look like this:
- Total Revenue = Ticket Price x Number of Participants
- Total Expenses = Venue Hire + Marketing + Presenter Fees + Materials
- Profit per Seminar = Total Revenue - Total Expenses
By inputting these values and formulas into a spreadsheet, Gustin will be able to easily calculate the profit per seminar and make adjustments as needed for varying numbers of participants or changes in costs.