Accounting Homework Help needed

The number of performances at the Utah Metropolitan Ballet

Dream: 5

Petrushka: 5

Nutcracker: 20

Sleeping Beauty: 10

Bugagku: 5

Direct fixed cost for each ballet:

Dream: $275,500

Petrushka: $145,500

Nutcracker: $70,500

Sleeping Beauty: $345,000

Bugaku: 155,500

Other fixed costs:

Advertising: $80,000

Insurance: 15,000

Administrative Salaries: 222,000

Office rental, phone, etc.: 84,000

Total: $401,000

For each performance of each ballet, the following costs are also incurred:

Utah Symphony: $3,800

Auditorium rental: 700

Dancer's payroll: 4,000

Total: $8,500

The auditorium in which the ballet is presented has 1,854 seats, which are classified as A,B, and C. The bes viewing ranges from A seats to C seats. Information concerning the different types of seats is given below:

                                                                                              A Seats                   B Seats                             C Seats

Quantity                                                                                    114                          756                                   984

Price                                                                                         $35                          $25                                   $15

Percentage sold for each performance:

Nutcracker                                                                                100                          100                                   100

All others                                                                                   100                           80                                     75 

Compute the expected revenues from the performances that have been tentatively scheduled. Prepare a variable costing income statement for each ballet.

 Calculate the number of performances of each ballet required to produce the revenues needed to cover each ballet’s direct fixed expenses.