EXERCISE 4: IDENTIFYING FIXED AND VARIABLE COSTS AND CALCULATING THE CONTRIBUTION MARGIN AND THE PV RATIO Parkway Travel Tours is organizing a five-day trip from Toronto to Branson, Missouri, a family town with all types of attractions and theatres. Although it is a small town (around 10,000 people), Branson attracts millions of visitors every year. Branson hosts more than 100 live shows in 52 state-of-the art theatres. For this particular five-day trip, it will cost the agency the following: Buss and driver $2,500/day $500/day $1,000 (brochure and newspapers) Travel guide Advertising Meals per person/day $5.00 (4 breakfasts) $20.00 (5 dinners) Hotel rooms (night) $60.00 (4 nights) Events/attractions $40.00 (per event for a total of 7 events) Other fixed costs $1,000 $100 (per person) Miscellaneous variable costs Price per client $1,700 QuestionsD MA RAJUD NAJU With the above information, calculate the following: EXEL d 1. Total fixed costs (per client) 2. Variable costs 3. Contribution margin (per client) 4. PV ratio 5. The number of clients needed to break-even 6. The number of clients needed if Parkway $5,000 profit wants to generate a anint tho cach hreak-even point, and the profit