For Fill in the Blank, Options are: "Realistic", or "Unrealistic"

A traveling production of Chicago performs each year. The average show sells 1,600 tickets at $60 per ticket. There are 100 shows each year. The show has a cast of 55, each earning an average of $260 per show. The cast is paid only after each show. The other variable expense is program printing costs of S7 per guest. Annual fixed expenses total $2,256,000. Read the requirements Requirement 1. Compute revenue and variable expenses for each show. The revenue for each show is $ The variable expenses for each show are S Requirement 2. Use the income statement equation approach to compute the number of shows needed annually to break even Begin by determining the basic income statement equation. Operating income Using the basic income statement equation you determined above, solve for the number of shows to breakeven. The number of shows needed annually to break even is Requirement 3. Use the shortcut unit contribution margin approach to compute the number of shows needed annually to eam a profit of $7,614,000 Is this goal realistic? Give your reason. Begin by selecting the formula. Target # of shows Using the equation you determined above, solve for the target number of shows. The number of shows needed annually to earn a profit of $7,614,000 is The profit goal of $7,614,000 is since Chicago currently performs 100 shows a year. Requirement 4. Prepare Chicago's contribution margin income statement for 100 shows each year. Report only two categories of expenses: variable and fixed. Chicago Contribution Margin Income Statement Year Ended December 31