4. You realize that you have not included labor or additional paper costs into your pricing strategy for the catered event. You are wondering if it would be more profitable to price your catered events using a food cost percentage of 40%. What would you charge for this brunch using this pricing strategy? Food Cost (A) Labor (B) Paper Cost Total Cost Target Selling Price Selling Price Food (C) A+B+C=D Equation/Show Price Total Cost Your Math (F) (E) 40% Cost (D) Food $155.00 $23.00 Cost Percent (E)=Selling Price (F) 5. Explain how a 40% food cost would be a good financial strategy?