1. A company is considering the feasibility of promoting a concert. Estimated fixed costs are ?60,000 to pay the performers, hire the venue and for advertising. Variable cost consists of a pre packed meal and is estimated to be ?10 per ticket sold. The proposed price for the sale of a ticket is ?20.a) Compute the company?s CM ratio and its break-even point in both units and pounds.b) How many tickets must be sold to meet ?30,000 target profit?c) What profit would result if 8,000 tickets were sold? What is the margin of safety?d) What selling price would have to be charged to give a profit of ?30,000 on sales of 8,000 tickets, fixed costs of ?60,000 and variable costs of ?10 per ticket?e) How many additional tickets must be sold to cover the extra cost of television advertising of ?8,000?
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