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Accounting

Problem:

Montpelier Symphony Orchestra performs concerts at large performing art center in the city. The average concert sells 900 tickets at $60 per ticket. The company runs about 100 concerts per year and each concert requires 95 artists. The company hires these artists on a long-term basis and pays each artist a base salary of $10,000 per year plus $375 per concert. Program printing cost is $2 per guest. Sales commission to the ticket agent includes a base fee of $2000 per concert plus a commission of $3.00 per ticket. Annual rent and other fix costs total $100,000.

Required:

The number of concerts that must be performed each year to break even is?

67 shows
80 shows
88 shows
66 shows
None of the above

Note: Explain all calculation and formulas.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164483

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