1. Compute revenue and variable costs for each show. 2. Use the equation approach to compute the number of shows City Productions must perform each year to break even. 3. Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $4,264,000. (Round contribution ratio to two decimal places.) Is this profit goal realistic? Give your reasoning. 4. Prepare City Productions' contribution margin income statement for 110 shows performed in the year. Report only two categories of costs: variable and fixed. 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 Select the formula and enter the amounts to compute variable costs for each show. Compute the variable costs per show for each Cost of programs Cost of performers Total variable costs Variable costs per show Requirement 2. Use the equation approach to compute the number of shows City Productions must perform each year to break ew First, select the formula to compute the required sales in units to break even. Rearrange the formula you determined above and compute the required number of shows to break even. The number of shows needed annually to break even is Target profit Requirement 3. Use the contribution margin ratio approach to compute the number of shows needed each year to earn a profit of $ Begin by showing the formula and then entering the amounts to calculate the required sales dollars to earn a profit of $4,264,000. (R places, XXXX Abbreviation used: CM contribution margin.) Requirement 3. Use the contribution margin ratio approach to compute the number of shows needed each year to eam a profit of $4,264,000 (Round contribution ratio to two decimal places.) is this profit goal realistic? Give your reasoning Begin by showing the formula and then entering the amounts to calculate the required sales dolars to eam a profit of $4,204,000. (Round the required sales in dollars to the nearest whole dofer Round amounts in the formula to be decimal places, XXXXX Abbreviation used CM contribution margin) Required sales in do Now use the information given and the required sales in dollars computed in the previous step to determine the requred number of shows n The number of shows needed annually to sam a profe of 84.264,000 Is this profit goal realistic? Give your reasoning The profit goal of 54,264,000 s since Cey Productions currently performs 110 shows a year Requirement 4. Prepare City Productions' contribution margin income statement for 110 shows performed in the year. Report only two catego City Productions Contribution Margin Income Statement Year Ended December 31, 20XX 4,264.000 (Round your answer co to the nearest whole number) Chy Productions performs London shows. The average show sells 1,000 tickets at $60 per scket. There are 110 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 eaming a net average of $320 per show The cast is paid after each show. The other variable cost is a program-printing cost of $8 per guest. Annual fixed costs total $450.200 Read the m CEO City Productions performs London shows. The average show sells 1,000 tickets at $60 per ticket. There are 110 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 $320 per show. The cast is paid after each show. The other variable cost is a program-printing cost of $8 per guest. Annual fixed costs total $459,200. Read the requirements