Tower Productions performs London shows. The average show sells 1,000 tickets at $60 per ticket. There are 110 sh has a cast of 60, each earning a net average of $320 per show. The cast is paid after each show. The other variable 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. - Sales revenue per show Select the formula and enter the amounts to compute variable costs for each show. Compute the variable costs per sh Variable costs per show Cost of programs Cost of performers Total variable costs Requirement 2. Use the equation approach to compute the number of shows Tower Productions must perform each First, select the formula to compute the required sales in units to break even. Target pr Rearrange the formula you determined above and compute the required number of shows to break even. The number of shows needed annually to break even is Requirement 3. Use the contribution margin ratio approach to compute the number of shows needed each year to ear Renin hv showinn the formula and then enterinn the amount to calculate the required sales dollare to earn a nrofit of ticket. There are 110 shows per year. No additional shows can be held as the theater is also used by other production companies. The average show how. The other variable cost is a program-printing cost of $8 per guest. Annual fixed costs total $459,200. ] me variable costs per show for each cost separately, and then compute the total variable costs per show. ariable costs per show es must perform each year to break even. Target profit ak even ded each year to eam a profit of $4,264,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. in eam anfit of R4 ORA NO (Rantha ranurant tot in Holte father whole Hallar Round munte in the formato decimal Requirement 3. Use the contribution margin ratio approach to compute the number of shows needed each year to eam a profit of $4,264,00 Begin by showing the formula and then entering the amounts to calculate the required sales dollars to earn a profit of S4 264,000. (Round thu places, XX.XX. Abbreviation used: CM = contribution margin.) - Required sales in dollars % Now use the information given and the required sales in dollars computed in the previous step to determine the required number of shows ne The number of shows needed annually to eam a profit of $4,264.000 is Is this profit goal realistic? Give your reasoning. The profit goal of $4,264,000 is since Tower Productions currently performs 110 shows a year. Requirement 4. Prepare Tower Productions contribution margin income statement for 110 shows performed in the year. Report only two cat Tower Productions Contribution Margin Income Statement Year Ended December 31, 20XX ows needed each year to earn a profit of $4,264,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. es dollars to earn a profit of $4,264,000. (Round the required sales in dollars to the nearest whole dollar. Round amounts in the formula to two decimal rs step to determine the required number of shows needed each year to eam a profit of $4,264,000. (Round your answer up to the nearest whole number.) 110 shows a year shows performed in the year. Report only two categories of costs: variable and fixed Requirement 4. Prepare Tower Productions contribution margin income statement for 110 shows performed in the year. Report only two categories of corte: variable and fund. Tower Productions Contribution Margin Income Statement Year Ended December 31, 20XX Operating Income (Loss) i Requirements 1. Compute revenue and variable costs for each show. 2. Use the equation approach to compute the number of shows Tower Productions must perform each year to break even. 3. Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $4,264,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. 4. Prepare Tower Productions' contribution margin income statement for 110 shows performed in the year. Report only two categories of costs: variable and fixed. Print Done