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I think I got it wrong . help please Amazing Productions performs London shows. The average show sells 1,000 tickets at $60 per ticket. There

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I think I got it wrong . help please

Amazing Productions performs London shows. The average show sells 1,000 tickets at $60 per ticket. There are 170 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 60, each earning a net average of $320 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $8 per guest. Annual fixed costs total $459,200. A Requirements X 1. Compute revenue and variable costs for each show. 2. Use the equation approach to compute the number of shows Amazing 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 $4,264.000. Is this profit goal realistic? Give your reasoning. Prepare Amazing Productions's contribution margin income statement for 170 shows performed in 2018. Report only two categories of costs: variable and fixed. the variable costs per show for each cost separately, and then Variable costs per show 8000 Requirement 1. Compute revenue and variable costs for each show. Select the formula and enter the amounts to compute sales revenue for each show. Number of units sold 1000 x x Variable costs per unit 60 = Sales revenue per show = 60000 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. Cost of programs Cost of performers Variable costs per unit X Number of units 8 x1000 320 x 60 = Variable costs per show 8000 19200 27200 Total variable costs Requirement 2. Use the equation approach to compute the number of shows Amazing 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 - Contribution margin per unit = 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 14 om nrofit of SA 26400 Is this profit Requirement 3. Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $4,264,000. 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 eam a profit of $4,264,000. (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.) ( )/ L Fixed costs 459200 + + Target profit 4264000 CM ratio 55 = Required sales in dollars = 8587636.36 % 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 $4,264,000. (Round your answer up to the nearest whole number.) The number of shows needed annually to earn a profit of $4,264,000 is 144 Is this profit goal realistic? Give your reasoning. The profit goal of $4,264,000 is realistic since Amazing Productions currently performs 170 shows a year. Requirement 4. Prepare Amazing Productions's contribution margin income statement for 170 shows performed in 2018. Report only two categories of costs: variable and fixed. Amazing Productions Contribution Margin Income Statement Year Ended December 31, 2018 Sales Revenue 10200000 Contribution Margin (1360000) Variable Costs (3264000)| Fixed Costs - Operating Income (Loss)

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