McCarthy Productions produces theatre shows. The average show sells 1,300 tickets at $60 per ticket. There are 175 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 a program-printing cost of $8 per guest. Annual fixed costs total $728,000. Requirements 1. Compute revenue and variable costs for each show. 2. Compute the number of shows they must perform each year to break even. 3. Compute the number of shows needed each year to earn a profit of $5,687,500. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. 4. Compute their Degree of Operating Leverage 5. Prepare a contribution margin income statement for 175 shows performed in the year. Report only two categories of costs: variable and fixed