4 (15 marks) LaRogue Productions performs London shows. The average show sells 1,500 tickets at $100 per ticket. There are 150 shows per year. No additional shows can be held as the theater is also used by other production companies. The average show has a cast of 65, each earning a net average of $550 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $14 per guest. Annual fixed costs total $928,000. Requirements a) Compute revenue and variable costs for each show. (4 marks) b) Use the equation approach to compute the number of shows England Productions must perform each year to break even. (3 marks) Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $5,967,500. Is this profit goal realistic? Provide your reasoning. (8 marks) - End of Paper - Page 6 of 6