Tower Productions performs London shows. The average show sells $1,430$ tickets at $$55$ per ticket. There are $170$ shows per year. No additional shows can be held as the theater is also used by other production companies. The average show has a cast of $50,$ each earning a het average of $$350$ per show. The cast is paid after each show. The other variable cost is a program$-$printing cost of $$11$ per guest. Annual fixed costs total $$999,240.$

Read the requirements.

Requirements

Compute revenue and variable costs for each show.

Use the equation approach to compute the number of shows Tower Productions must perform each year to break even.

Use the contribution margin ratio approach to compute the number of shows 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.

Prepare Tower Productions' contribution margin income statement for $170$ shows performed in the year. Report only two categories of costs: variable and fixed.