Famous Productions performs London shows. The average show sells $1,300$ tickets at $$60$ per ticket. There are $115$ shows per year. No additional shows can be held as the theater is also used by other production companies. The average show has a cast of $65,$ each earning a net average of $$340$ per show. The cast is paid after each show. The other variable cost is program$-$printing cost of $$8$ per guest. Annual fixed costs total $$728,000.$

Requirements

Compute revenue and variable costs for each show.

Use the equation approach to compute the number of shows Famous 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 $$5,687,500.$ Is this profit goal realistic? Give your reasoning.

Prepare Famous Productions's contribution margin income statement for $115$ shows performed in $2016.$ Report only two categories of costs: variable and fixed.

show.

$\backslash$table$[[,,$Variable costs per unit,$x,$Number of units,$=,$Variable costs per show$],[$Cost of programs,$$,8,x,1,300,=,10,400],[$Cost of performers,$$,340,x,65,=,22,100],[$Total

variable costs,,,,,,$$,32,500$ Requirment $3$ and $4!!!$