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Compute revenues and variable costs for each show

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Reference no: EM132816825

DMC Co. performs Dubai shows. The average show sells 1,200 tickets at $50 per ticket. There are 50 shows a year. The average show has a cast (staff) of 70, each earning an average of $300 per show. The cast is paid after each show. The other costs are:

Program printing $7 per guest
Annual fixed costs $800,000.

Required:

Problem 1: Compute revenues and variable costs for each show.

Problem 2: DMC is considering increasing the ticket fees to $80 per tickets. Marketing department estimated that number of tickets sold each time would drop by 30%. Should DMC increase the ticket price? Explain.

Reference no: EM132816825

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