Tower Productions performs London shows. The average show sells 1,000 tickets at $60 per ticket. There are 110 shows per year. No additi has a cast of 60, each earning a net average of $320 per show. The cast is paid after each show. The other variable cost is a program-printin 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 show for each cost separa 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 year to break even First, select the formula to compute the required sales in units to break even Target profit 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 earn a profit of $4,264,000 Ranin hy showing the formula and then entering the amount in aluate the manual calec dollars in ann anfit of 4 R4nnn (Round the Choose from any list or enter any number in the input fields and then continue to the next question ws per year. No additional shows can be held as the theater is also used by other production companies. The average show st is a program-printing cost of $8 per guest. Annual fixed costs total $459,200. w for each cost separately, and then compute the total variable costs per show. ar to break even Fit a profit of $4,264,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. 254 00 Round the entired sales in dollars to the nearest whole dollar Round amunte in the formula tn hwn derimal Requirement 3. Use the contribution margin ratio approach to compute the number of shows nended each year to eam a profit of $4,264,000. (Round contribution ratio to Begin by showing the formula and then entering the amounts to calculate the required sales dollars to com a profit of $4,264,000. (Round the required sales in dollars to the 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 previoun step to determine the required number of shows needed each year to satn a prot The number of shows needed annually to earn a profit of 54.254,000 is In this profit goat realistie? Give your reasoning The profit goal of 54.264,000 in since Tower Productions currently performs 110 shows a yout. Requirement 4. Prepare Tower Productions contribution margin income statement for 110 shows performed in the year. Report only two categories of costs: variable and Tower Productions Contribution Margin Income Statement Year Ended December 31, 20XX a profit of $4,264,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. 4,264,000. (Round the required sales in dollars to the nearest whole dollar. Round amounts in the formula to two decimal number of shows needed each year to earn a profit of $4,264,000. (Round your answer up to the nearest whole number.) 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. Repor Tower Productions Contribution Margin Income Statement Year Ended December 31, 20XX Operating Income (Loss) 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.)'s 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