Complete problem P7.2 A and B and P7.3 A

The attached workbook can assist you in complete the problem:

please I need help with this assignment please

AutoSave Off Assignment8Workbook O Sear File Home Insert Page Layout Formulas Data Review View Help X CS Calibri Um A A > e Paste B I U DAE V ? Undo Clipboard Font V Alignment B18 VX & fx B C D F G P7.2 W 0 ~ OUT AWN- A. Cost Per Person Food Cost Wage Cost Other Cost Total Variable Cost $6.50 $2.75 $1.25 $10.50 10 Fixed Cost Per Person $3.50 12 Total Cost Per Person 13 $14.00 14 15 B. Selling Price Target Income (%) Selling Price: 16 17 18 20% $17.50 Sheet1 Accessibility: Good to m Ready Using the concept of relevant costs over the five-year period, which model would be the best investment? (Note: In your calculations, ignore any costs that are not relevant.) P7.2 The fixed cost of the banquet department of a botel is $350 a day. A cus- tomer selected a menu for 100 persons that would have a food cost of $6.50 per person, a variable wage cost of $2.75 per person, and other vari- able costs of $1.25 per person. a. Calculate the total cost per person if this banquet were booked. b. What should be the total selling price (sales revenue) and the price per person if a 20% operating income on sales revenue is wanted? c. The customer does not want to pay more than $13.75 per person for this function. She is a good customer: she has booked many functions in the banquet room in the past and is expected to do so in the future. The function is three days from now. and there is no likelihood you will be able to book the room for any other function. Explain why you would, or would not accept the $13.75 per-person price. (Note: Assume that the hotel has only one banquet room.) P7.3 You have the following annual information about a restaurant complex consisting of three departments: Contributory Dining Coffee Income Statement Room Shop Lounge Total Sales revenue $194,800 $135,800 $152.800 $483,400 Direct costs ( 154,400) ( 128.000) ( 124,600) (407,000) Contributory income $ 40.400 S 7.800 $ 28,200 $ 76,400 Indirect costs ( 52,000) Operating income $ 24,400 The owner wants to allocate indirect costs quarterly to each department based on square footage to get a better picture of how each department is doing. Dining room Coffee shop Lounge 2,200 sq. ft. 840 sq. ft. 960 sq. ft. a. Allocate the indirect costs as indicated. b. The owner has an offer from the souvenir store operator who is will- ing to rent the coffee shop space for $9,600 a year. Advise the owner whether to accept the offer