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A traveling production of Beauty and the Beast performs each year. The average show sells 800 tickets at $65 per ticket. There are 130 shows each year. the show has a cast of 65, each earning an average of $320 per show. The other variable expense is program printing costs at $5 per guest. annual fixed expenses total $489,600.
Problem 1: Compute revenue and variable expenses for each show.
Problem 2: Use the income statement equation approach to compute the number of shows needed annually to break even.
Problem 3: Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a profit of $2,094,400 Is this goal realistic? Give your reason.
Problem 4: Prepare Beauty and the Beast's contribution margin income statement for 130 shows each year. Report only two categories of expenses: variable and fixed.
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