IndividualFee SettingResource:Ch. 11 inFinancial ManagementCompleteExercises 11.1 & 11.2 on pp. 158–159.Determinethe most important issues for a human service agency to address in fee setting.Determinethe issues that are least important.Justifyyour answers.Postyour answers as a Microsoft®Word attachmentQuestion Exercise 11.1The child and family government benefits seminar was such a success that Advocatesfor Children will conduct a second seminar in an adjoining community. Theexecutive director decides that this second seminar will attempt to maximize revenues.Consequently, no reduced fee schedule will be offered. All trainees will paythe full seminar fee. The seminar will take place in a smaller conference room thanthe earlier one. The room can only accommodate a maximum of 45 trainees. Hereis the proposed budget for the seminar:Proposed Seminar Budget1. Conference room rental $175.00 $ 175.002. Audiovisual equipment Rental 75.003. 4 presenters @ $500 2,000.004. 45 workbooks @ $15 675.005. 45 lunches @ $12 540.006. 45 coffees @ $3.50 158.00Subtotal $3,623.007. Indirect costs @ 25% of $3,675.00 $ 906.00Subtotal $4,529.008. Profit margin @ 5% of $4,594.00 $ 227.00Total $4,756You are the executive director. Following the checklist in Figure 11.1, performall the computations necessary to set a fee. What will your fee be? What is yourbreak-even point? What is your go/no-go decision pointQuestion Exercise 11.2As the executive director of Advocates for Children, you have had a change ofheart. You decide not to attempt to maximize revenues in this second seminar. Youdecide to exclude a profit margin in the fee computation, but you will include indirectcosts. Additionally, the local United Way in the community hosting the seminarhas guaranteed 45 participants. If fewer than 45 participants register for theseminar, the United Way will make up the difference. In exchange for this guarantee,the United Way has asked you to set the seminar fee as low as possible. Followingthe checklist in Figure 11.1, perform all the computations necessary to set afee. What will your fee be?

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