Required:

1. Compute the expected revenues from the performances that have been tentatively scheduled. Prepare a variable-costing income statement for each ballet.
2. Calculate the number of performances of each ballet required to produce the revenues needed to cover each ballets direct fixed cost.
3. Calculate the number of performances of each ballet required for the company as a whole to break even. If you were the president and general manager, how would you alter the tentative schedule of performances?

Metropolitan Ballet Metropolitan Ballet is located in Salt Lake City. The ballet company features five different ballets per year. For the upcoming seasons, the five ballets are to be perfromed and its corresponding number of performances: Dream Petrushka Nutcracker Sleeping Beauty Bugaku 5 5 20 10 5 To produce each ballet, cost must be incurred for costumes, props, rehearsal, royalties, guest artist fees, choreography, salaries of production staff, music and wardrobe. These cost arew fixed for a particular ballet regardless of the number of performances. The direct costs follow for each ballet. Dream P275,000 Petrushka P145,500 Nutcracker P70,500 S.Beauty P345,000 Bugaku P155,500 Other fixed cost is incurred as follows: Advertising Insurance Administrative Salaries Office rental, phone and so on Total P 80,000 15,000 222,000 84,000 P401,000 For each ballet performance, the following cost are also incurred: Utah Symphony Auditorium rental Dancers' payroll Total P3,800 700 4,000 P8,500 The auditorium in which the ballet is presented has 1,854 seats, which are classified as A, B and C. Information concerning the different types of seat follows: C Seats 984 P15 A Seats B Seats Quantity 114 756 Price P35 P25 Percentage sold for each performance Nutcracker 100 100 All others 100 80 *Based on experience, the same percentages are expected for the coming season. 100 75 Required: 1. Compute the expected revenues from the performances that have been tentatively scheduled. Prepare a variable-costing income statement for each ballet. 2. Calculate the number of performances of each ballet required to produce the revenues needed to cover each ballet's direct fixed cost. 3. Calculate the number of performances of each ballet required for the company as a whole to break even. If you were the president and general manager, how would you alter the tentative schedule of performances