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City Productions performs London shows. The average show sells 1,300 tickets at $60 per ticket There are 150 shows per year. No additional shows ce be heid 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. Th 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. Read the requirements. Requirement 1. Compute revenue and variable costs for each show. Select the formula and enter the amounts to compute sales revenue for each show. 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. Requirement 2. Use the equation approach to compute the number of shows City Productions must perform each year to break even. First, select the formula to compute the required sales in units to break even. 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 Requirement 3. Use the contribution margin ratio approach to compute the number of shows needed each year to eam a profit of $5,687,500. 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 $5,687,500. (Round the requirod sales in dollars to the nearest whole dollar. Round amounts in the formula to two decimal places, XX.XX. Abbreviation used: CM = contribution margin) ((+)+%==Requiredsalesindollars 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 $5,687,500. (Round your answer up to the nearest whole number) The number of shows needed annually to eam a profit of $5,687,500 is Requirement 4. Prepare City Productions's contribution margin income statement for 150 shows performed in 2018 . Report only two categonies of costs: variable and fixed
