Queen Productions performs London shows. The average show sells 1, 100 tickets at $70 per ticket. There are 150 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 45, each earning a net average of $310 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $13 per guest. Annual fixed costs total $487,500. 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. Net sales revenue per unit X Number of units sold = Sales revenue per show $ 70 1,100 = $ 77,000 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. Variable costs per unit X Number of units = Variable costs per show Cost of programs 13 X 1, 100 = $ 14,300 Cost of performers 310 45 13,950 X Total variable costs 28,250 Requirement 2. Use the equation approach to compute the number of shows Queen Productions must perform each year to break even.Queen Productions performs London shows. The average show sells 1, 100 tickets at $70 per ticket. There are 150 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 45, each earning a net average of $310 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $13 per guest. Annual fixed costs total $487,500. Read the requirements. 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 Variable costs per unit Number of units = Variable costs per show Cost of programs 13 1,100 S 14,300 Requirements Cost of performers 310 45 13,950 28,250 1 . Compute revenue and variable costs for each show. Total variable costs 2 . Use the equation approach to compute the number of shows Queen Productions must perform each year to break even. Requirement 2. Use the equation approach to compute the number of shows Queen Productions must perform each year to break even. 3. Use the contribution margin ratio approach to compute the number of shows First, select the formula to compute the required sales in units to break even. needed each year to earn a profit of $5,750,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning Net sales revenue Variable costs Fixed costs = Target profit 4. Prepare Queen Productions' contribution margin income statement for 150 shows performed in the year. Report only two categories of costs: variable Rearrange the formula you determined above and compute the required number of shows to break even. and fixed. The number of shows needed annually to break even is Print Done Help me solve this Demodocs example Get more help -Queen Productions performs London shows. The average show sells 1, 100 tickets at $70 per ticket. There are 150 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 45, each earning a net average of $310 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $13 per guest. Annual fixed costs total $487,500. Read the requirements. 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 ner show Variable costs per unit Number of units = Variable costs per show Requirements Cost of programs 13 X 1, 100 14,300 310 45 S 13,950 Cost of performers 28,250 1 . Compute revenue and variable costs for each show. Total variable costs 2 . Use the equation approach to compute the number of shows Queen Productions must perform each year to break even. Requirement 2. Use the equation approach to compute the number of shows Queen Productions must perform each year to break even. 3. Use the contribution margin ratio approach to compute the number of shows First, select the formula to compute the required sales in units to break even. needed each year to earn a profit of $5,750,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. Net sales revenue Variable costs Fixed costs Target profit 4. Prepare Queen Productions' contribution margin income statement for 150 shows performed in the year. Report only two categories of costs: variable Rearrange the formula you determined above and compute the required number of shows to break even. and fixed. The number of shows needed annually to break even is Print Done Help me solve this Demodocs example Get more help