Queen Production performs London shows. The average show sells 1,300 tickets at $60 per ticket. There are 120 shows a year. The average show has a cast of 65, each earning an average of $340 per show. The cast is paid after each show. The other variable cost is program-printing cost of $8 per guest. Annual fixed costs total $728,000.

Requirements

1.	Compute revenue and variable costs for each show.
	2.Use the income statement equation approach to compute the number of shows Queen Productions must perform each year to break even.
	3. Use the contribution margin approach to compute the number of shows needed each year to earn a profit of $5,687,500. Is this profit goal realistic? Give your reasoning.
4.	Prepare Queen ProductionsQueen Productions' contribution margin income statement for 120 shows performed in 2011. Report only two categories of costs: variable and fixed.