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Problem $1$:

International Productions performs Cats, the play. The average show sells $1,200$ tickets at $$45\mathrm{.}00$ a ticket. There are $100$ shows a year. Cats has a cast of $50,$ each earning an average of $$350\mathrm{.}00$ a show. The cast is paid after each show. The other variable expense is program printing cost of $$9\mathrm{.}50$ per guest. Annual fixed expense is $$255,000\mathrm{.}00.$

Questions:

$1.$ Calculate total revenue and total variable expenses for each show. $(5$ pts$)$

$2.$ How many show Cats must perform each year to break even? Show all of your calculations and answer the question in a complete sentence. $(10$ pts$)$

$3.$ Using contribution margin approach, calculate the number of shows needed each year to earn a profit of $$3,520,000\mathrm{.}00.$ Show your calculations and answer the question in a complete sentence. $(10$ pts$)$

Problem $2$:

BudgetBurg Orchestra incurs $$1\mathrm{.}9$ million in annual fixed costs. The variable cost for each person attending one of the Orchestra$$s performances is $$11\mathrm{.}60.$ The Orchestra facility has $3$ sitting options for its visitors: $(1)$ VIP Seats, $(2)$ General Seats, and $(3)$ Balcony Seats. The Orchestra charges $$400$ per person for VIP seats, $$150$ per person for General seats, and $$100$ per person for Balcony seats. Generally, $10\%$ of their patrons buy VIP seats, $75\%$ buy General Seats, and the rest of patrons buy Balcony seats.

Questions:

$1.$ How many people must buy tickets each year for the Orchestra to break even? Assume that the seats$$ mix does not change. Show all of your calculations and answer the question in a complete sentence. $(10$ pts$)$

$2.$ How many $$General Seats$$ will be sold at the break even? $(10$ pts$)$

Problem $3$:

Ken and Sai Krizorung live in BudgetBurg, Finansylvania. A couple of years ago they visited Thailand. Sai, a professional chef, was impressed with the cooking methods and spices used in the Thai food. BR does not have a high$-$end Thai restaurant, and the Krizorung are contemplating opening one. Sai would supervise the production aspect of the restaurant, and Ken would be responsible for the business side.

The establishment would serve dinner Thursday through Sunday, starting at $4\mathrm{.}00$pm until midnight. The restaurant will have $11($eleven$)$ tables, each of which can seat $4($four$).$ Tables can be moved together for a large party. Sai realistically expects to have $7($seven$)$ visitors $($sittings$)$ per evening and the restaurant will be open $48($forty eight$)$ weeks a year. They plan to hire $1$ person as a waiter, who will be expected to be working during all opening hours of operation.

Ken conducted some preliminary analysis and came up with the following estimates:

Item

$ Amount

Average revenue per meal

$$98\mathrm{.}00$

Average cost of food per meal

$$27\mathrm{.}75$

Waiter Salary per hour

$$6\mathrm{.}75$

Sai Salary per year

$$50,000\mathrm{.}00$

Rent $($Premises and Equipment$)$ per month

$$4,000\mathrm{.}00$

Cleaning $($linen and premises$)$ per month

$$750\mathrm{.}00$

Miscellaneous Expenses per Month

$$400\mathrm{.}00$

Utilities, Ads, Communication Lines per Month

$$1,500\mathrm{.}00$

Questions:

How many meals must be sold for the Restaurant to break even? Show all of your calculations and answer the question in a complete sentence. $(10$ pts$)$

How many meals must be sold for the Restaurant to earn a profit of $$90,000$ per year? Show all of your calculations and answer the question in a complete sentence. $(10$ pts$)$

How many meals must be sold per night for the Restaurant to earn the target profit of $$90,000$ per year? Show all of your calculations and answer the question in a complete sentence. $(10$ pts$)$

Should the couple open the restaurant? Support your answer.

Problem $4$:

Hospital for Homeless has the following cost structure:

Variable Cost

Fixed Costs

Personnel

$$175$

Rent

$$100,000$

Supplies

$$20$

Administration

$$140,000$

Laundry

$$30$

Other

$$60,000$

Other

$$50$

Total Fixed Costs

$$300,000$

Total VC$/$Patient

$$275$

Question $1$: What are fixed, variable, total, and average costs per patient for volumes of $100,500,1,500,2,500,$ and $3,000?$

Question $2$: Create a graph for each of the previously mention costs. Cost should be on vertical axis and number of patient on horizontal.

Question $3$: An outside organization offers to send HH $500$ patient per year and offers to pay $$300$ per patient. Should the hospital agree to the arrangement? It can easily handle additional patients.