A traveling production of Chicago performs each year. The average show sells 1,000 tickets at $65 a ticket. Tre are 115 shows each year. The show has a cast of 35, each eaming an average of $340 per show. The cast is paid only after each show. The other variable expense is program printing costs of 50 per guest. Annual fixed expenses total $1,237,500 Read the requirements Requirement 1. Compute revenue and vanable expenses for each show The revenue for each show The variable expenses for each show are Requirement 2. Use the income statement equation approach to compute the number of shows needed annually to break even Begin by determining the basic income statement equation Operating income Using the basic income statement equation you determined above, solve for the number of shows to breakeven The number of shows needed annually to break eveni Requirement 3. Use the shortest unit contribution margin approach to compute the number of shows needed annually to eam a profit of $10.366,000 is this goal realistic? Give your reason Begin by selecting the formule Using the equation you determined above, solve for the larget number of shows The number of shows needed annually to earn a profit of $10.300,000 The prot goal of $10,305,000 since Chicago currently performs 115 shows a year Target # of shows 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 eam a profit of $10.395.000 is this goal realistic? Give your reason Begin by selecting the Using the equation you determined above, solve for the target number of shows The number of shows needed annually to eam a profit of $10.395.000 The profit goal of $10,305.000 since Chicago currently performs 115 shows a year. Target of shows Requirement 4. Prepare Chicago's contribution margin income statement for 115 shows each year. Report only two categories of expenses variable and fixed Chicago Contribution Margin Income Statement Year Ended December 31 each sh Requirements ch to com above, sol 1. Compute revenue and variable expenses for each show. 2. Use the income statement equation approach to compute the number of shows needed annually to break even. 3. Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a profit of $10,395,000 Is this goal realistic? Give your reason. 4. Prepare Chicago's contribution margin income statement for 115 shows each year. Report only two categories of expenses: variable and fixed. pproach to get number of shows. 10,395,000 is go currently performs 115 shows a year Print Done - X e your reason. Requirement 1. Compute revenue and variable expenses for each show. The revenue for each show is The variable expenses for each show are Requirement 2. Use the income statement equation approach to compute the number of shows needed annually to break even. Begin by determining the basic income statement equation. Operating income Contribution margin Fixed expenses Number of shows Sales revenue it equation you determined above, solve for the number of shows to breakeven. inually to break even is t unit contribution margin approach to compute the number of shows needed annually to earn a profit of $10,39 + ed above, solve for the target number of shows. = Target # of shows Variable expenses inually to earn a profit of $10,395,000 is The profit goal of $10,395,000 is since Chicago currently performs 115 shows a year. Requirement 4. Prenare Chicago's contribution margin income statement for 115 shows each vear. Report only two categories of expenses: variat Anton of Cheage perks ach year The i Requirement 1. Compe revenue and variable expenses ch The perforach show Begin by selecting the form The number of shows de aly30.000 The proft go of $10.395.000 since Chicago cumanity performs 115 shows y