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...

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