BA213- Managerial Accounting - ONLINE -10338 - Winter 2022** eva ondongo 03/03/22 2:45 PM =Test: Test #2 Question 1 of 12 > This test: 100 point(s) possible This question: 16 point(s) possible Submit test A traveling production of Grease performs each year. The average show sells 1,400 tickets at $50 per ticket. There are 100 shows a year. The show has a cast of 40, each earning an average of $340 per show. The cast is paid only after each show. The other variable expense is program printing expenses of $8 per guest. Annual fixed expenses total $1,582,000. Read the requirements. Requirement 1. Compute revenue and variable expenses for each show. The revenue for each show is 70000 The variable expenses for each show are 24800 Requirement 2. Compute the number of shows needed annually to break even. Begin by determining the basic income statement equation. Sales revenue Variable expenses Fixed expenses 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 even is Requirement 3. Compute the number of shows needed annually to earn a profit of $4,836,400. Is this goal realistic? Give your reason. Begin by selecting the formula . = Target # of shows Using the equation you determined above, solve for the target number of shows. The number of shows needed annually to earn a profit of $4,836,400 is The profit goal of $4,836,400 is unrealistic since Grease currently performs 100 shows a year. Requirement 4. Prepare Grease's contribution marain income statement for 100 shows each vear. Report only two categories of expenses: variable and fixed. Time Remaining: 02:29:04 Next MacBook Pro esc dele O CO