Amazing Productions performs London shows. The average show sells 1,775 tickets at $49 per ticket. There are 120 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 54 , each eaming a net average of $200 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $14 per gust. Annual fixed costs total $923,850. Read the requirements. Requirement 1. Compute revenue and variable costs for each show. Select the formula and enter the amounts to compute sales revenue for each show. Select the formula and enter the amounts to compute variable costs for each show. Compute the variable costs per show for each cost separately, and then compute the total variable costs per show. Requirements 1. Compute revenue and variable costs for each show. 2. Use the equation approach to compute the number of shows Amazing Productions must perform each year to break even. 3. Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $6,000,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. 4. Prepare Amazing Productions' contribution margin income statement for 120 shows performed in the year. Report only two categories of costs: variable and fixed. Requirement 1. Compute revenue and variable costs for each show. Select the formula and enter the amounts to compute sales revenue for each show. o compute variable costs for each show. Compute the variable costs per show for each cost separately, and then compute the total Contribution margin per unit Fixed costs Net sales revenue per unit Number of units sold Operating income h to compute the number of shows Amazing Productions must perform each year to break even. uired sales in units to break even. Requirement 1. Compute revenue and variable costs for each show. Select the formula and enter the ariounts to compute sales revenue for each show. Select the formula and enter the amounts to compute variable costs for each show. Compute the variable costs per show for each cost separately, and then compute the total variable costs per show. Requirement 2. Use the equation approach to compute the number of shows Amazing Productions must perform each year to break even. First, select the formula to compute the required sales in units to break even. is also used by other production companies. The average show sells 1,775 tickets at $49 per ticket. There are 120 shows per year. No additional shows can be held as the theate cost is a program-printing cost of $14 per gust. Annual fixed costs total $923,850. Read the requirements. Requirement 2. Use the equiation approach to compute the number of shows Amazing Productions must perform each year to break even. First, select the formula to compute the required sales in units to break even. Rearrange the formula you determined above and compute the required number of shows to break even. The number of shows needed annually to break even is Requirement 3. Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $6,000,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. Begin by showing the formula and then entering the amounts to calculate the required sales dollars to earn a profit of $6,000,000. (Round the required sales in dollars to the nearest whole/dollar. Round amounts in the formula to two decimal places, XX.XX. Abbreviation used: CM= contribution margin.) is also used by other production companies. The average show has a cast of 54 a at $49 per iicket. There are 120 shows per year. No additional shows can be held as the theal cost is a program-printing cost of $14 per gust. Annual fixed costs total $923,850. Read the Now use the information given and the required sales in dollars computed in the previous step to determine the required number of shows needed each year to earn a profit of $6,000,000. (Round your answer up to the nearest whole number.) The number of shows needed annually to earn a profit of $6,000,000 is Is this profit goai realistic? Give your reasoning. The profit goal of $6,000,000 is since Amazing Productions currently performs 120 shows a year. Requirement 4. Prepare Amazing Productions' contribution margin income statement for 120 shows performed in the year. Report only two categories of costs: variable and fixed. Amazing Productions performs London shows. The average show sells 1,775 fickets at $49 per ticket. There are 120 shows per year No additional shows car is also used by other production companies. The average show has a cast of 54 , each eaming a net average of $200 per show, The cast is paid after each shu cost is a program-printing cost of $14 per guest. Annual fixed costs total $923,850. Read the requirements. Contribution Margin since Amazing Productions currently performs 120 shows a year Cost of Goods Sold Productions' contribution margin income statement for 120 shows performed in the year. Report only two categories of costs
