Question: I have to fill in the below chart and answer questions below.. with below data.. Title Name of Dance Concert Revenues/Performance Variable Costs/Performance Contribution Margin/Performance
I have to fill in the below chart and answer questions below.. with below data..
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| Name of Dance Concert | Revenues/Performance | Variable Costs/Performance | Contribution Margin/Performance | Total Contribution/Type of Dance Concert | Direct Fixed Costs | Segment Margin/Type of Concert |
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Prepare a segmented income statement in good format.
Compute the number of performances required to break even for each concert. These are separate computations for each dance concert.
Compute break even for the organization as a whole and express the result in revenues instead of the number of performances.
Ms. Smith wants to performance group to show at least $150,000 in operating profit. What level of revenues does the performance group need to achieve to meet this goal?
| Descriptions | Number of Performances | Cost per Dance Concert (direct fixed costs) |
| Hip Hop Concert | 10 | $45,000 |
| Jazz and Tap Dance | 5 | 88,000 |
| Modern Dance | 10 | 95,000 |
| Christmas Spectacular | 20 | 25,000 |
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| $253,000 |
Additional costs:
Variable costs associated with each performance are shown below.
| Musicians | $7,500 |
| Rental of auditorium | 2,500 |
| Dancers' compensation | 7,000 |
General administrative and operating costs for the dance center are:
| Administrative staff | $185,000 |
| Insurance | 25,000 |
| Marketing | 215,000 |
| General office expenses | 90,000 |
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| Lower Orchestra Section (A) | Upper Orchestra Section (B) | ||||
| Descriptions | No. of Seats | Ticket Price | Tickets Sold per Performance | No. of Seats | Ticket Price | Tickets Sold per Performance |
| Hip Hop Performance | 150 | $85 | 100% | 450 | $50 | 90% |
| Jazz and Tap Dance | 150 | $85 | 100% | 450 | $50 | 60% |
| Modern Dance | 150 | $85 | 100% | 450 | $50 | 95% |
| Christmas Spectacular | 150 | $125 | 100% | 450 | $50 | 100% |
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