Green Productions performs London show, accounting homework help
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Green Productions performs London shows. The average show sells 1,300
tickets at $60 per ticket. There are 175 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 65, each earning a net average
of $340 per show. The cast is paid after each show. The other variable
cost is program-printing cost of $8 per guest. Annual fixed costs total
$728,000.
- Compute revenue and variable costs for each show.
- Use the equation approach to compute the number of shows Green 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 5,687,500. Is this profit goal realistic? Give your
reasoning. - Prepare Green Production’s
contribution margin income statement for 175 shows performed in 2016.
Report only two categories of costs: variable and fixed.
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