2 Part 1 of 5 Required information [The following information applies to the questions displayed below.) 1.66 points Maria Chavez owns a catering company that serves food and beverages at parties and business functions. Chavez's business is seasonal, with a heavy schedule during the summer months and holidays and a lighter schedule at other times. One of the major events Chavez's customers request is a cocktail party. She offers a standard cocktail party and has estimated the cost per guest as follows: eBook $16.00 5.00 Print Food and beverages Labor (0.5 hour @ $10.00/hr.) Overhead (0.5 hour @ $11.82/hr.) Total cost per guest . 5.91 $26.91 Reference The standard cocktail party lasts three hours and Chavez hires one worker for every six guests, so that works out to one-half hour of labor per guest. These workers hired only as needed and are paid only for the hours they actually work. When bidding on cocktail parties, Chavez adds a 14% markup to yield a price of about $31 per guest. She is confident about her estimates of the costs of food and beverages and labor but is not as comfortable with the estimate of overhead cost. The $11.82 overhead cost per labor-hour was determined by dividing total overhead expenses for the last 12 months by total labor-hours for the same period. Monthly data concerning overhead costs and labor-hours follow: January 4,200 Labor- Overhead Month Hours Expenses 2,200 $ 42,000 February 2,500 46,000 March 2,700 47,000 April 3,900 51,000 May 54,000 June 5,20 58,000 July 6, 200 61,000 August 7,200 64,000 September 6,700 62,000 October 4,200 55,000 November 3,800 51,000 December 6,200 59,000 Total 55,000 $650,000 Chavez has received a request to bid on a 160-guest fundraising cocktail party to be given next month by an important local charity. (The party would last the usual three hours.) She would like to win this contract because the guest list for this charity event includes many prominent individuals that she would like to secure as future clients. Maria is confident that these potential customers would be favorably impressed by her company's services at the charity event. Required: 1. Prepare a scattergraph plot that puts labor-hours on the X-axis and overhead expenses on the Y-axis. What insights are revealed by your scattergraph? Instructions: 1. On the graph below, use the point tool (January) to plot the labor-hours on the horizontal axis and overhead expenses on the vertical axis. 2. Repeat the same process for the plotter tools (February to December). 3. To enter exact coordinates, click on the point and enter the values of x and y. 4. To remove a point from the graph, click on the point and select delete option. Overhead expense 90000 Tools 80000 70000 January Februar 60000 50000 March April 40000 30000 May June 20000 10000 0 1000 3000 5000 2000 7000 4000 6000 8000 Labor Hours