This project is from chapter 20 for you to practice CVP analysis and includes two decision- making analysis questions. MAD 20-2 Analyze Ocean Escape Cruise Lines' cost- volume-profit relationships Ocean Escape Cruise Lines has a boat with a capacity of 1,200 passengers. An eight-day ocean cruise involves the following costs: Crew Fuel Fixed operating costs $240,000 60,000 800,000 The variable costs per passenger for the eight-day cruise include the following: Meals Variable operating costs $900 400 The price of the cruise is $2.400 per passenger. Require: Determine the break-even number of passengers for the eight-day cruise. Assume 900 passengers booked the cruise. What would be the profit or loss for the cruise? Assume the cruise was booked to capacity. What would be the profit or loss for the cruise? If the cruise cannot book enough passengers to break even, how might the cruise line respond? MAD 20-4 Analyze Musicland Theme Park's Cost- Volume-Profit Relationships MusicLand Theme Park has an average daily admission price of $60 per guest. The following financial data are available for analysis: Daily operating fixed costs Variable daily operating cost per guest Average daily concession revenue per quest Average daily variable cost of concession items per quest $750,000 24 30 16 Additional operating data indicate that the park averages 24,000 daily guests during the weekdays and 40,000 average daily guests on Saturdays and Sundays. Require: . Determine the break-even number of guests per day at the theme park. How much profit does MusicLand earn on an average weekday? How much profit does MusicLand earn on an average weekend day? Determine the revised break-even if the daily fixed costs increased to $1,000,000. Would the theme park still remain profitable for an average weekday under the scenario in (d)?