A traveling production of Fiddler on the Roof performs each year. The average show sells 1,200 tickets at $55 a ticket. There are 115 shows each year. The show has a cast of 60, each earning an average of $320 per show. The cast is paid only after each show. The other variable expense is program printing costs of $9 per guest. Annual fixed expenses total $1,224,000. Requirements: Compute revenue and variable expenses for each show.

A traveling production of Fiddler on the Roof performs each year. The average show sells 1,200 tickets at $55 a ticket. There are 115 shows each year. The show has a cast of 60, each earning an average of $320 per show. The cast is paid only after each show. The other variable expense is program printing costs of $9 per guest. Annual fixed expenses total $1,224,000. Requirements: Compute revenue and variable expenses for each show.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 11EA: Markson and Sons leases a copy machine with terms that include a fixed fee each month plus acharge...

See similar textbooks

Similar questions

A traveling production of Beauty and the Beast performs each year. The average show sells 1,300 tickets at $55 a ticket. There are 115 shows each year. The show has a cast of 70, each earning an average of $320 per show. The cast is paid only after each show. The other variable expense is program printing costs of $7 per guest. Annual fixed expenses total $560,000. Read the requirements. Requirement 1. Compute revenue and variable expenses for each show. The revenue for each show is The variable expenses for each show are Requirement 2. Use the income statement equation approach to compute the number of shows needed annually to break even. Begin by determining the basic income statement equation. Using the basic income statement equation you determined above, solve for the number of shows to breakeven. The number shows needed annually to break even is Requirement 3. Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a profit of…
A traveling production of Fame Broadway performs each year. The average show sells 1,500 tickets at $60 per ticket. There are 120 shows each year. The show has a cast of 70, each earning an average of $350 per show. The cast is paid only after each show. The other variable expense is program printing costs of $7 per guest. Annual fixed expenses total $1,500,000. Requirements: Compute revenue and variable expenses for each show.
??
A traveling production of The Lion KingThe Lion King performs each year. The average show sells 1 comma 2001,200 tickets at $ 50 per ticket. There are 125 shows each year. The show has a cast of 60, each earning an average of $ 320 per show. The cast is paid only after each show. The other variable expense is program printing costs of $ 8 per guest. Annual fixed expenses total $ 1,185,600 1. Compute revenue and variable expenses for each show. 2. Use the income statement equation approach to compute the number of shows needed annually to breakeven. 3. Use the shortcut unit contribution margin approach to compute the number of shows needed annually to earn a profit of $3,369,600 Is this goal realistic? Give your reason. 4. Prepare The Lion KingThe Lion King's contribution margin income statement for 125 shows each year. Report only two categories of expenses: variable and fixed.
Give correct solution for this following requirements on these general accounting question
financial accounting variable expenses
Calculate earned revenues Kirkland Theater sells season tickets for six events at a price of $240. In pricing the tickets, the planners assigned the leadoff event a value of $60 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,500 season tickets were sold for the 2013 season. 2013 Required: Calculate the theater's earned revenue after the first three events have been presented. b. About 95% of the season ticket holders attended the first event. Subsequent events were attended by about 80% of the season ticket holders. To what extent, if any, should the attendance data impact revenue recognition? Explain your answer. а.
Roseberg Theater sells tickets for dinner and a show for $60 each. The cost of providing dinner is $31 per ticket and the fixed cost of operating the theater is $65,000 per month. The company can accommodate 15,000 patrons each month. What is the contribution margin ratio? 51.67% 207% 48.33% 40.00%
Who Done It Mystery Theater sells tickets for dinner and a show for $55 each. The cost of providing dinner is $40 per ticket and the fixed cost of operating the theater is $100,000 per month. The company can accommodate 15,000 patrons each month. What is the contribution margin ratio?
IT Company produces and sell boxes of sign pens for P1,000 per box. Direct materials are P400 per box and direct manufacturing labor averages P75 per box. Variable overhead is P25 per box and fixed overhead is P12,500,000 per year. Administrative expenses, all fixed, run P4,500,000 per year, with sales commissions of P100 per box. Production is expected to be 100,000 boxes, which is met every year. For the year just ended, 75,000 boxes were sold. What is the inventoriable cost per box using full costing? A.P770B.P500C.P475D.P625
Tutor, Incorporated (TI) provides instructional services to its customers. TI charges $240 per student. The Company expects to serve 700 students during the coming year. All of the Company's expenses are fixed. Total annual fixed costs are projected to be $80,000. If the estimated number of students decreases by 10%, net income will
The Sandhill Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rent at $120 a night. Operating costs are as follows: Salaries $5400 per month Utilities $1300 per month Depreciation $1100 per month Maintenance $2520 per month Maid service $33 per room Other costs $63 per room a/ Determine the inn’s break-even point in number of rented rooms per month. b/Determine the inn’s break-even point in dollars.