City Productions performs London shows. The average show sells 900 tickets at $65 per ticket. There are 155 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 59 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. Net sales revenue per unit 65 x x Number of units sold 900 Sales revenue per show = $ 58,500 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 unit X Number of units 900 $ Cost of programs Cost of performers = Variable costs per show = $ 8,100 $ 18,150 5 330 26,250 Total variable costs Requirement 2. Use the equation approach to compute the number of shows City Productions must perform each year to break even First, select the formula to compute the required sales in units to break even Net sales revenue - Variable costs Fixed costs - 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 18 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, XXXX Abbreviation used: CM = contribution margin) Fed costs + Target profit ) CM ratio - Required sales in dollars 580500 4 128000 ) % =D