British Productions performs London shows. The average show sells $1,890$ tickets at $$58$ per ticket. There are $115$ shows per year. No additional shows can be held as the theater is also used by other production companies. The average show has a cast of $52,$ each earning a net average of $$360$ per show. The cast is paid after each show. The other variable cost is a program$-$printing cost of $$15$ per guest. Annual fixed costs total $$750,600$

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 sho

Cost of programs

Cost of performers

Total variable costs

Requirement $2.$ Use the equation approach to compute the number of shows British Productions must perform each ye

First, select the formula to compute the required sales in units to break even.

$($arget pro

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

Requirements

Compute revenue and variable costs for each show

Use the equation approach to compute the number of shows British Productions must perform each year to break even.

Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $$7,000,000.($Round contribution ratio to two decimal places.$)$ Is this profit goal realistic? Give your reasoning.

Prepare British Productions' contribution margin income statement for $115$ shows performed in the year. Report only two categories of costs variable and fixed.

Requirement $3.$ Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $$7,000,000($Round contribution ratio to two decimal places.$)$ Is this profit