Celeb Productions performs London shows. The average show sells 900 tickets at $65 per ticket. There are 165 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 55, each earning a net average of $330 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $9 per guest. Annual fixed costs total $580,500 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. Sales revenue per 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. Variable costs per show Cost of programs Cost of performers X Total variable costs Requirements ons must perform each year to break even. 1. Target profit break even 1. Compute revenue and variable costs for each show. 2. Use the equation approach to compute the number of shows Celeb 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 $4,128,000. Is this profit goal realistic? Give your reasoning. 4. Prepare Celeb Productions's contribution margin income statement for 165 shows performed in 2018. Report only two categories of costs: variable and foxed. needed each year to earn a profit of $4,128,000. Is this pollars to earn a profit of $4,128,000. (Round the required es, XX.XX. Abbreviation used: CM = contribution margin.) Print Done Now use the information niven and the renuired sales in dollars nomouted in the revious stan to determine the required number of show needed nach Chorn from anot Requirement 2. Use the equation approach to compute the number of shows Celeb Productions must perform each year to break even First, select the formula to compute the required sales in units to break even. = Target profit 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 $4,128,000. 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 54,128,000. (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.) = Required sales in dollars 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 $4, 128,000. (Round your answer up to the nearest whole number) The number of shows needed annually to earn a profit of $4,128,000 is Is this profit goal realistic? Give your reasoning The profit goal of $4,128,000 is since Celeb Productions currently performs 165 shows a year, Requirement 4. Prepare Celeb Productions's contribution margin income statement for 165 shows performed in 2018. Report only two categories of costs: variable and fixed. Celeb Productions Contribution Margin Income Statement Year Ended December 31, 2018 Is this profit goal realistic? Give your reasoning. The profit goal of $4.128,000 is since Celeb Productions currently performs 165 shows a year. Requirement 4. Prepare Celeb Productions's contribution margin income statement for 165 shows performed in 2018. Report only two categories of costs: variable and fixed. Celeb Productions Contribution Margin Income Statement Year Ended December 31, 2018 Operating Income (Loss) Celeb Productions performs London shows. The average show sell can be held as the theater is also used by other production compar show. The cast is paid after each show. The other variable cost is a Read the requirements. Requirement 1. Compute revenue and variable costs for each sho Select the formula and enter the amounts to compute sales revenue mounts to compute variable costs 3ts per show. Contribution margin per unit Fixed costs Net sales revenue per unit Number of units sold Operating income Total variable cost Variable costs per unit Requirement 2. Use the equation approach to compute the number First, select the formula to compute the required sales in units to bre Rearrange the formula you determined above and compute the requi The number of shows needed annually to break even is Requirement 3. Use the contribution margin ratio approach to compu profit goal realistic? Give your reasoning. Cost of programs Cost of performers X Total variable costs Requirement 2. Use the equation approach to compute the number of shows Cele First, select the formula to compute the required sales in units to break even. 7 Rearrange the formula you determined above and compute the required number of The number of shows needed annually to break even is Requirement 3. Use the contribution margin ratio approach to compute the numbe profit goal realistic? Give your reasoning. Begin by showing the formula and then entering the amounts to calculate the requir sales in dollars to the nearest whole dollar. Round amounts in the formula to two de ) Required sales in ) / % CM per unit CM ratio given and the required sales in dollars computed in the pre yea 4,128,000. (Round your answer up to the nearest whole nun Fixed costs The Variable costs eeded annually to earn a profit of $4,128,000 is ( Nov Is this profit goal realistic? Give your reasoning. The profit goal of $4,128,000 is since Celeb Productions currently perfo Requirement 4. Prepare Celeb Productions's contribution margin income statement costs: variable and fixed. Choose from any list or enter any number in the input fields and then continue t ales in 11 + ) / ) % == Now use the information given and the required sales in dollars com year to earn a profit of $4,128,000. (Round your answer up to the The number of shows needed annually to earn a profit of $4,128,00 Is this profit goal realistic? Give your reasoning. The profit goal of $4,128,000 is since Celeb Production Requirement 4. Prepare Celeb Productions's contribution margin in costs: variable and fixed. Celeb Productions Contribution Margin Income Statement Year Ended December 31, 2018 Contribution Margin Cost of Goods Sold Fixed Costs Gross Profit Sales Revenue Variable Costs number in the input fields and the
