A travelling production of Les Misérables performs annually. On average, each show sells 1,000 tickets at $65 per ticket. There are 120 shows each year. The show has a cast of 50 members, 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 $1,400,000. Compute the revenue and variable expenses for each show.

A travelling production of Les Misérables performs annually. On average, each show sells 1,000 tickets at $65 per ticket. There are 120 shows each year. The show has a cast of 50 members, 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 $1,400,000. Compute the 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 12EB: Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month...

See similar textbooks

Similar questions

Compute revenue and variable expense 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.
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 Palmer Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents at $ 70 a night. Operating costs are as follows. $ 5,700 per month $ 1,200 per month Salaries Utilities Depreciation $ 1,000 per month Maintenance $ 3,720 per month Maid service $ 14 per room Other costs $ 28 per room Determine the inn's break-even point in number of rented rooms per month. Break-even point rooms LINK Tο ΤΕXT VIDEO: APPLIED SKILLS Determine the inn's break-even point in dollars. Break-even point 2$
I→ Famous Productions performs London shows. The average show sells 1,095 tickets at $45 per ticket. There are 180 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 60, each earning a net average of $240 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $10 per guest. Annual fixed costs total $334,950. 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 Requirements 1. Compute revenue and variable costs for each show 2. Select the formula and enter the amounts to compute variable costs for each show Compute the variable costs per show for each cost separately, and then compute the total variable costs per show. Variable costs per show 3. Cost of programs Cost of performers Use the equation approach to compute the…
The Cullumber Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents at $100 a night. Operating costs are as follows: Salaries $7,500 per month Utilities $1,000 per month Depreciation $1,100 per month Maintenance $2,940 per month Maid service $24 per room Other costs $46 per room Determine the inn’s break-even point in number of rented rooms per month. Break-even point enter the break-even point in number of rented rooms rooms Determine the inn’s break-even point in dollars. Break-even point in $enter the break-even point in dollars
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?
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.
The Palmer Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents at $ 55 a night. Operating costs are as follows. Salaries $ 5,100 per month Utilities $ 1,400 per month Depreciation $ 1,100 per month Maintenance $ 1,464 per month Maid service $ 11 per room Other costs $ 22 per room Determine the inn’s break-even point in number of rented rooms per month. Break-even point enter the break-even point in number of rented rooms per month rooms eTextbook and Media Determine the inn’s break-even point in dollars. Break-even point $enter the break-even point in dollars
The Sandhill Acres Inn is trying to determine its break-even point during its off - peak season. The inn has 50 rooms that it rents at $120 a night. Operating costs are as follows: Salaries $5,400 per month Property tax $1,300 per month Depreciation (straight-line) $1,100 per month Maintenance $120 per month Maid service $33 per room Other costs $ 63 per room Determine the inn's break-even point in number of rented rooms per month. Break - even point 1584 rooms eTextbook and Media Solution Attempts: 4 of 4 used (b) * Your answer is incorrect. Determine the inn's break- even point in sales dollars. Break-even point in sales. $
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%