A traveling production of Chicago performs each year. The average show sells 1,400 tickets at $40 per ticket. There are 100 shows each year. The show has a cast of 45,each earning an average of $320 per show. The cast is paid only after each show. The other variable expense is program printing cost of $8 per guest. Annual fixed expenses total $456,000

Requirement 1: Compute revenue and variable expenses for each show (see picture )

Requirement 2:Use the income statement equation approach to compute the number of shows needed annually to breakeven (see picture )

Requirement 3: Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a profit of $3,830,400. Is this goal realistic? Give your reason. (see picture )

Requirement 4: Prepare Chicago's contribution margin income statement for 100 shows each year. Report only two categories of expenses :variable and fixed(see picture )

u only after each show The other variable expense is program printing at $40 per ticket. There are 100 s costs of $8 per guest. Annual fixed expenses total $456. Read the requirements. The revenue for each show is The variable expenses for each show are s Requirement 2. Use the income statement equation approach to compute the number of shows needed annually to breakeven Begin by determining the basic income statement equation. Operating income Using the basic income statement equation you detemined above. solve for the number of shows to breakeven. The number of shows needed annually to break even is Requirement 3. Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a pr Begin by selecting the formula Target of shows choose from any list or enter any number in the input fields and then continue to the next question O Ask me anything