Jacksonville Hospital has overall variable costs of 20% of total revenue and fixed costs of $40 million per year. Requirements 1. Compute the break-even point expressed in total revenue. 2. A patient-day is often used to measure the volume of a hospital. Suppose there are to be 40,000 patient-days next year. Compute the average daily revenue per patient-day necessary to achieve the break-even total revenue computed in item 1. Requirement 1. Determine the shortcut formula, then compute the break-even point expressed in total revenue. (Enter ratios to two decimal places and all other amounts in dollars.) Fixed costs Contribution-margin ratio = Break-even point in revenue Requirement 2. A patient-day is often used to measure the volume of a hospital. Suppose there are to be 40,000 patient-days next year. Compute the average daily revenue per patient-day necessary to achieve the break-even total revenue computed in item 1. | = Daily revenue per patient-day