Broome Music Society is a not$-$for$-$profit organization that brings guest artists to the community's greater metropolitan area. The music society just rented a small concert

hall in the centre of town to house its performances. The lease payments on the concert hall are expected to be $$4,000$ per month. The organization pays its guest

performers $$1,800$ per concert and anticipates corresponding ticket sales to be $$4,500$ per concert. The music society also incurs costs of approximately $$1,000$ per

concert for marketing and advertising. The organization pays its artistic director $$33,000$ per year and expects to receive $$30,000$ in donations in addition to its ticket

sales.

Required

Requirements $1$ and $2.$ Determine the formula used to calculate the breakeven point, and then enter the amounts in the formula to calculate the number of concerts

needed in order to break even under the scenarios presented in requirement $1$ and requirement $2.($Abbreviations used: CM $=$ Contribution margin, Var. $=$ Variable$)$

What is the music society's operating income$/($loss$)$ if it hires the new marketing director and holds $42$ concerts per year?

The music society would have an operating

of